Vernonburg: Connect One Billion Digital Invest Award

The purpose of this agreement between USAID and vernonburg group llc (VERNONBURG), together and in consultation with industry and interagency partners, is to establish and deploy the connect one billion entity for small to mid-sized internet service providers (ISPS) in low and middle-income countries (LMICS).

This new entity is being designed to strategically combine technical assistance and grants, concessional funding, and growth capital to holistically support isps throughout their growth, bringing one billion new individuals under coverage of secure broadband connectivity.

Up to usd$250m is being targeted for connect one billion to directly support 50 isps with investment capital and technical assistance ranging from usd$100k to usd$8m through a sustainable investment model.

USAID funding for this agreement will be used to cover operational expenses, legal and setup costs, and to develop innovative financing products and technical assistance for the connect one billion entity that will be deployed in a sustainable manner for a period of 5-10-years beyond establishment.

USAID funding will be disbursed as milestone payments commensurate with completion of key accomplishments in the establishment of, fundraising for, and deployment of connect one billion.