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Overview

M/C Partners was the lead investor in MetroPCS, the first provider of unlimited wireless communications service for a flat rate for customers with no signed contract.  By targeting the cost-conscious, high-volume minute users with an offering created specifically for their needs, MetroPCS was able to carve out a space for itself in the competitive universe of wireless carriers.  With an initial investment of $350 million, MetroPCS built out its first 4 markets and went on to establish a presence in 14 of the 25 largest metropolitan areas in the country.

How we added value

Providing Growth Capital.

When M/C Partners made its first investment in 2000, MetroPCS was preparing to exit bankruptcy and the company required funding to execute its network build and growth strategy. M/C Partners was the lead investor and helped form a syndicate of investors to invest sufficient capital for the company to build out the markets where it owned spectrum. The company raised $350 million and was able to fund its initial market buildouts of Miami, Atlanta, San Francisco and Sacramento.

Recruited Management Team.

As a lead investor, M/C Partners was instrumental in helping founder Roger Linquist recruit a high caliber management team that was well prepared to go after the identified underserved portion of the market.

Conviction to Back a New Business Model.

M/C was aligned with the founder's vision to build an operator with a new and differentiated strategy. That strategy – offering unlimited service at flat rate pricing for customers with no signed contract – was an untested business model in the wireless industry at that time. M/C was able to draw on its experience in the communications industry to build conviction that there existed a promising opportunity in the identified niche.

Strategic Guidance.

From 2000 until November 2007, M/C Partners was an active member of the Board of Directors and was deeply engaged in the development and oversight of the company’s strategic plans and growth initiatives.

Overview

From the launch date in March 2002, MetroPCS went on to become the fastest growing wireless company in the industry’s history. By 2007 the company had over 3.5 million subscribers and in April 2007 the company completed its initial public offering, valuing the business at $8 billion.

Cuba Burch Berner

Cuba Burch Berner is an Associate at M|C Partners, where he focuses on investment opportunities in digital infrastructure and technology services. Prior to joining the firm in 2022, Cuba was an Equity Research Associate at Citi covering infrastructure companies within the telecommunications industry, including data centers and wireless towers. He holds a B.S. in Mathematics with a specialization in Economics from the University of Chicago. Cuba currently lives in Boston’s West End and enjoys  a myriad of outdoor activities including running, swimming, hiking, and skiing.

Joined

2022

AFFILIATED PORTFOLIO

Contact

BOARD POSITIONS

AccentHealth

AccentHealth operates an out-of-home advertising network that reaches over 12,000 physician office waiting areas in the U.S. – JOHN WATKINS

TEAM MEMBERS

SECTOR

IT SERVICES

James F. Wade

Jim Wade co-founded M/C Partners in 1986 with Dave Croll. He has been investing in communications and technology services since the advent of wireless and broadband, cornerstones of the firm’s sector focus. As a founding managing partner, he manages the firm’s investment process, and continuously seeks out management teams, company prospects and financial resources to grow the portfolio. Jim’s successful track record includes MetroPCS (IPO), Lightower Holdings (acquired by Berkshire Partners), Triad Communications (acquired by T-Mobile), Brooks Fiber Properties (IPO and sale to AT&T Wireless), Cavalier Telephone (acquired by PAETEC), NuVox Communications (acquired by WindStream), Attenda (acquired by Darwin Private Equity), Melita (acquired by Apax Partners), PR Wireless (joint venture with Sprint affiliate in Puerto Rico), Thrive Networks (acquired/recapitalized by Court Square) and Involta (acquired by Carlyle Group). Today he serves as a director on the Board of Connectivity Wireless and has responsibility for Omega Wireless. Jim graduated from the University of Notre Dame a B.B.A in Finance and received an MBA from Harvard Business School. He lives outside Boston with his wife and four children. Jim was an avid boater and is now an average golfer.

JOINED

1986

Contact

BOARD POSITIONS
Connectivity Wireless

 

Connectivity
Wireless
Involta

Abhishek Rampuria

Abhishek (A.B.) is a Partner at M/C Partners, where he leads origination, deal diligence and portfolio company support for investments in a variety of communications and technology services segments. He currently serves on the Board of Ascend Technologies, Connectivity Wireless, Edafio Technology Partners, TowerCom and serves as a Board Observer for Thrive Networks. A.B. previously served as a Board Observer for Ensono (acquired by KKR) and QOS Networks (acquired by Zayo). Prior to joining M/C Partners in 2015, A.B. worked at Altman Solon (formerly Altman Vilandrie), a technology, media & telecommunications focused strategy consulting firm, where he completed projects for both operating companies and private equity investors. A.B. received a B.S. in Materials Science & Engineering from the Massachusetts Institute of Technology. He lives in Boston’s South End and outside of work, enjoys skiing, cycling, traveling and cheering on his home-town Patriots and Celtics.

Joined

2015

AFFILIATED PORTFOLIO

Thrive Networks

Contact

BOARD POSITIONS

Ascend Technologies
Connectivity Wireless
Edafio Technology Partners
TowerCom