CHARLOTTE – Fiber and communications provider Brightspeed has a whopping $500 million in new funding for its expanding broadband network.

The company, which recently opened a new headquarters in Charlotte, announced Tuesday that it secured the investment from Mubadala Investment Company , the Abu Dhabi sovereign investor.

In exchange the firm becomes a minority shareholder in Brightspeed.

Noted Bob Mudge, Chief Executive Officer for Brightspeed: “We are in the early stages of our company’s growth trajectory, and we are grateful for Mubadala’s endorsement of Brightspeed’s vision and strategy. The added investment from another well-respected institutional investor is a testament to the value we will create and the connections we will enable for homes and businesses across our 20-state footprint.”