Norwest Launches Grande Towers to Address Growing Demand for Digital Communications

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Feb 01, 2024, 12:00 ET

Company to focus on digital infrastructure and acquisition projects spanning 5G and fixed wireless

MENLO PARK, Calif., Feb. 1, 2024 /PRNewswire/ -- Norwest, a leading venture capital and growth equity investment firm, today launched Grande Towers, a global digital infrastructure company powering wireless connectivity and digital communications. Under the leadership of co-founders Clarence Cook and Jason Peduto, Grande Towers will partner with Norwest to target future digital infrastructure investments and acquisitions.

The race to claim a stake in AI, paired with the widespread adoption of cloud services, is creating insatiable demand for digital infrastructure that research predicts will increase exponentially by the end of this decade. According to a report authored by McKinsey, U.S. data center demand will grow approximately 10% per year through 2030.

At the same time, consumers and businesses want better mobile and internet connectivity, performance and access. The Ericsson Mobility Report (November 2023) shows that mobile data usage per smartphone on average globally is expected to more than double in the next six years, increasing from 21 GB in 2023 to 56 GB in 2029. The Cisco Broadband Index (2022) shows that more than three out of four global workers believe fast, stable internet services can propel economic growth in their country.

Seeing enormous market opportunity, Grande Towers is setting out to build the infrastructure necessary to support innovation during a period of hypergrowth, powering everything from 5G and 6G to fixed wireless across the globe.

About Grande Towers
Founded in 2024, Grande Towers is a global digital infrastructure company powering wireless connectivity and digital communications. Incubated by Norwest, the company was co-founded by Clarence Cook and Jason Peduto.

SOURCE Norwest Venture Partners