Back to News

NOVA Infrastructure continues Fund II investments, Fund I exits

By Natalie Boyer — Infralogic — Sept 15, 2026 NOVA Infrastructure has made two further investments from its second infrastructure fund and expects to make three more by the end of 2026, according to a firm executive. NOVA Infrastructure has made two further investments from its second infrastructure fund and expects to make three more by the end of 2026, according to a firm executive.

The manager raised USD 1.45bn for its second fund – NOVA Fund II, which closed in April and has since made four investments in companies across the infrastructure sector.

Over the summer, NOVA closed investments from the fund in solid waste platform Reclaim Waste Solutions and powered-land developer Datawatt Energy, Chris Beall, founder and managing partner of NOVA, told this publication.

NOVA previously announced its purchase of enterprise data center provider DartPoints and community battery storage company UGE International in a press release issued when the fund closed. This publication then reported that the manager was in exclusivity on two more investments. Beall shared that the firm plans to make three additional investments by the end of 2026 and another three to five in 2027.

NOVA previously exited two investments from Fund I: Integrated Waste Solutions Group in 2023 and Bold Ocean Investment in 2024. The firm also expects to make further exits from Fund I in the fall, according to Beall. In its first fund, NOVA invested in seven companies across the waste, maritime logistics, fiber, rail, digital infrastructure, and renewables sectors.

The manager recently closed an upsizing of a corporate financing for its portfolio company telMAX, a Canadian fiber business. With the upsizing, NOVA brought in Power Sustainable Infrastructure Credit (PSIC), Palistar, and MidStar to provide a credit facility, while Hamilton Lane provided structured capital, according to Beall.

NOVA invested in telMAX, a fiber-to-the-home company, in January 2021, alongside minority co-investor Quintana Infrastructure & Development.

Last month, this publication reported that Ares was offering financing to the potential buyers of NOVAʼs portfolio company Ascension FBO Network. Final bids for the company were due in early September, and Ardian and Bain Capital were named as bidders in the process.

NOVA declined to comment on the Ascension sale or acquisition financing process.