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Fiber optic network builder Memphis Networx of Memphis has received a more than $1 million investment commitment from Memphis Telecom, a newly formed Memphis-area minority investment group led by Luke Yancy, president of Yancy Financial Group, and Archie Willis III, president of Community Capital. Memphis Networx will use the capital to continue developing the fiber-optic ring and supporting services aimed at allowing Memphis companies access to high-speed bandwidth. Memphis Networx's prior backing includes investments by Memphis Light Gas & Water Division and Memphis Broadband llc, a company formed by Paradigm Capital Partners and the Memphis Angels investment group. --Cheryl Meyer www.TheDeal.com