Macquarie Capital Leads Continued Investment in Surf Internet

Investment completes previously announced equity commitment alongside existing investors Bain Capital and Future Standard

ELKHART, Ind.–(BUSINESS WIRE)–#BEAD—Surf Internet®, a leading fiber-optic internet provider serving communities across Indiana, Illinois, and Michigan, today announced an investment led by Macquarie Capital, alongside Bain Capital and Future Standard.

In February 2025, Surf announced a $175 million equity investment to accelerate fiber deployment and expand access to reliable, high-speed internet in underserved and rural communities. This subsequent investment reflects the planned execution of that commitment and supports the next stage of Surf’s fiber buildout as the company advances construction activity and prepares additional markets for launch.

“Macquarie Capital has been a strong partner,” said Ryan Delack, Chief Financial Officer of Surf Internet. “Their continued support allows us to deploy capital thoughtfully while maintaining the financial discipline needed to scale responsibly.”

“We are proud to continue supporting Surf Internet as it expands critical broadband infrastructure across the Great Lakes region,” said Sam Southall, Managing Director, Infrastructure and Energy Capital at Macquarie Capital. “Surf’s disciplined execution and impact-driven mission make it a standout partner in addressing the digital divide.”

With the support of Macquarie Capital and existing investors, Surf is on track to surpass 330,000 total passings in 2026, bringing reliable fiber-optic internet service to dozens of new communities and supporting connectivity for homes, schools, and businesses. To learn more about Surf Internet and its service areas, visit surfinternet.com.

About Surf Internet

Surf Internet is an innovative fiber-optic internet company that serves as the essential gateway to connectivity across the Great Lakes region of Illinois, Indiana, and Michigan. The company is building a bridge to the wide-open future by delivering high-speed, reliable internet to homes and businesses in underserved, rural communities. Surf’s 350-plus-person team is local, giving them an edge when it comes to customer care and advocacy for the region. Headquartered in Elkhart, Ind., Surf also has offices in La Porte, Ind., Byron Center and Fowlerville, Mich., and Coal City, Naperville, and Rock Falls, Ill. Learn more at https://surfinternet.com.

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