Naples firm acquires 45-mile fiber optic project in DC

ROC Venture Group, a Naples-based venture capital and private equity firm with a growing portfolio of AI-related investments, has acquired a 45-mile fiber optic network outside Washington, D.C.  

Financial terms of the deal weren’t disclosed in a statement and officials with the company didn’t respond to email requests for comment. 

The company says the “landmark” fiber optic acquisition is along the Interstate 95 corridor in Maryland and Virginia, “an area that has the highest concentration of data centers and fiber optic needs in the world.” The project, the release states, also “emphasizes faster fiber technology than what currently exists in the area.” 

Photo by Katie Alessio

ROC, in announcing the deal, also says it named a new partner: Michael Alessio, “an expert in site development with deep experience in building critical infrastructure for data centers,” the release states. 

“Having been involved in the construction of multiple data centers to support the surging demand of artificial intelligence, I’m excited to join ROC Venture Group and lead this new focus in critical infrastructure,"  Alessio says in the statement. “This first project in the DC Metro area is an ideal market given the data needs from existing hyperscalers in and around the nation’s capital.”

ROC Venture Group was founded in 2020.