Standard
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Confidential Investor Presentation · 2026

Standard Fund I

The institutional consolidator of North American
broadband & telecommunications infrastructure.

Buy-and-build2026 vintage$250M target raise
Confidential — not for distribution
The Opportunity

Essential infrastructure — still radically fragmented.

Thousands of subscale, owner-operated broadband networks sit on top of the largest public broadband build-out in U.S. history. Consolidation is the obvious next act — and almost no one is executing it at institutional scale.

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Independent operators across North America
A fragmented, sub-scale long tail
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U.S. homes passed by fiber
Growing double-digits annually
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Federal capital deploying (BEAD)
Reshaping rural economics
Why Now

Four tailwinds converging at once.

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Public subsidy — BEAD program capital rewriting rural unit economics and de-risking builds.
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Fixed-wireless market CAGR — a fast, capital-efficient path to coverage alongside fiber.
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Fiber homes passed — overbuild pressure pushing subscale operators toward consolidation.
1st gen
Founders aging into succession — a wave of owner-operators seeking a permanent home for their networks.
Our Thesis

We buy, build, and hold.

Standard acquires proven regional operators and integrates them into a single, national broadband platform — combining subscale networks into an institutional-grade business with real pricing power, shared infrastructure, and durable cash flow.

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Permanent capital. No forced exit clock — we compound as owners and operators.
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Operator-led. Playbooks run by people who have built and run networks.
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Infrastructure economics. Recurring revenue, high margins, hard assets, subsidy support.
Target profile
35%+
EBITDA margins at scale
90%+
Recurring subscription revenue
Hard
Physical fiber & tower assets
The Playbook

A repeatable buy-and-build engine.

Source

Proprietary pipeline of owner-operated networks seeking succession.

Acquire

Disciplined diligence and structuring — grants, USF, and consents cleared.

Integrate

100-day plans, shared procurement, unified billing and NOC.

Grow

Fiber conversion, footprint expansion, and margin compounding.

Technology · Archimedes

Our unfair advantage is software.

Archimedes is the proprietary AI operating system we built to run the firm — twelve specialized agents working every deal, around the clock.

AI deal sourcing2,000+ operators mapped and scored continuously — signal before a process starts.
AI diligence & modelingData rooms read in hours; LBO and DCF models generated in seconds.
AI investment committeeMemos, risk analysis, and board packets assembled automatically.
Portfolio intelligenceLive KPIs, benchmarking, and predictive alerts across every company.
12 AI agents 24M+ data points / day 90s to IC memo 40+ integrations
ArchimedesPipelineCRMDiligenceModelsCommitteePortfolioReportsAll agents activeDeal PipelineFund I · North American broadband✦ 247 opportunities scored todaySOURCED128Ridgeline WirelessWISP · CO$14M EVAI 8.1Bluegrass FiberFTTH · KY$31M EVAI 7.4Cascade BroadbandHybrid · OR$9M EVAI 6.2SCREENED42Prairie NetworksWISP · KS$22M EVAI 8.7Gulf Coast TelecomCable · LA$45M EVAI 7.9Summit ConnectWISP · UT$11M EVAI 5.8DILIGENCE7Project AtlasFiber co-op · Southeast$66M revAI 9.2Project BeaconHybrid · Southwest$40M revAI 8.9IC REVIEW3Project HarborUrban ISP · West$10M revAI 8.6
The Infrastructure

Fiber, fixed-wireless, and a connected backbone.

We own the physical layer of the internet — buried fiber, licensed spectrum, and towers — and knit regional operators into one nationally-scaled, globally-connected network.

Fiber

Fiber to the home

High-margin, future-proof FTTH assets — the terminal technology for fixed broadband.

Fixed Wireless

Spectrum & towers

Licensed spectrum and tower networks reaching rural markets fiber can't economically serve.

Global

Connected backbone

Interconnected transit and peering — local networks plugged into the global internet.

One Connected System

Regional networks, illuminated into one.

Every operator we acquire lights up as a node in a single, coordinated national platform.

The Founding Platform

Three networks. One platform.

Fund I's first program combines three coordinated acquisitions into a national independent-broadband platform — two protected rural incumbents and one urban growth operator.

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Combined subscribers
$0
Combined revenue
$0
Combined EBITDA · est.
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States of footprint
Founding Platform · Portfolio

A balanced base of rural durability and urban growth.

OPERATOR I

Rural Fiber Cooperative

Southeast · multi-decade incumbent
Subscribers
29K+
Revenue (est.)
~$66M
EBITDA (est.)
~$23.1M
Grants awarded
$50M+
Due diligence · 6–12 mo runway
OPERATOR II

Fiber + Fixed-Wireless

South Central · ~37,000 sq mi
Subscribers
50K+
Revenue (est.)
~$40M
EBITDA (est.)
~$14M
Network
368 towers
Due diligence · 6–12 mo runway
OPERATOR III

Urban Growth ISP

West Coast · ~30 cities · 4.7★
Subscribers
10K+
Revenue (est.)
~$10M
EBITDA (est.)
~$3.5M
Model
MDU + B2B
Due diligence · 3–6 mo runway

Operator identities withheld — available under NDA in the data room.

Financial Snapshot · Founding Platform

~35% blended EBITDA margin at close.

Revenue by operator · est.
Operator I
$66M
Operator II
$40M
Operator III
$10M
EBITDA by operator · est.
Operator I
$23.1M
Operator II
$14M
Operator III
$3.5M
$0
Combined revenue
$0
Combined EBITDA
0
Recurring revenue
Pipeline

A live, proprietary deal-flow funnel.

Beyond the founding platform, an active pipeline of sourced operators feeds the next phase of consolidation.

Sourced
40+
Screened
12
Diligence
3
Definitive
Deployed
Roadmap

Eighteen months from diligence to integrated platform.

Three coordinated closings on one execution track — with integration starting the day the first deal funds.

Today Q3 ’26Q4 ’26Q1 ’27Q2 ’27Q3 ’27Q4 ’27
Diligence & LOIsQoE ×3 · network audits · grant & USF review
Definitive agreementsBoard approvals · consents · announcements
Urban platform closingRegulatory consents · integration begins
Member votes & consentsCooperative meetings & ballots
Rural closingsGrant & lender consents · funds flow
Integration & scale100-day plans · shared procurement · fiber conversion
Execution window Closing milestone Today · Jul 2026
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Committed
$100M committed of $250M
The Raise · Fund I

$150M of the raise remains.

Final allocations are being finalized with a select group of institutional and family-office investors.

Illustrative use of proceeds
Operator acquisitions 70%
Network & fiber expansion 18%
Integration & opex 7%
Reserves 5%
Leadership

Operators, not spectators.

Standard is led by founders who have built, scaled, and sold broadband networks — investing as owners and operators.

Addiel Lopez
Founding Partner

Addiel Lopez

Two-time telecommunications founder who built and scaled Sling Broadband and Skybridge Wireless. Leads Standard’s strategy, operations, and acquisition program — pairing hands-on network expertise with disciplined capital allocation.

Founder · Sling Broadband & Skybridge Wireless
Marcus Thompson
Operating Partner

Marcus Thompson

CFA charterholder and MIT-trained operator leading capital acquisition, strategic finance, and business development. Background spans fiscal policy, infrastructure finance, and asset management.

Prior · UNI Financial · Independent Power Group

Build the permanent home for
North American broadband.

Request an allocation or the full data room, available to qualified investors under NDA.

standardfund.co · Confidential
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