The telecommunications infrastructure industry in Europe is crucial for ensuring connectivity and communication throughout the continent. This sector includes various players such as network operators, technology providers, and service firms that build, manage, and enhance communication networks. They offer everything from fixed-line broadband to advanced mobile services like 5G. With the rising demand for digital connectivity driven by IoT and remote work, the industry is focusing on innovation and expansion. Increased investments aim to upgrade existing networks and develop new solutions, shaping a future where seamless communication is accessible to all.


This list highlights 12 notable investors in telecommunications infrastructure, showcasing various types. Corporate giants, private equity firms, and venture capitalists operate from countries like the UK, France, and Sweden. Ranging from small teams to large enterprises, these investors were founded between 1945 and 2016. Notably, they engaged in numerous transactions in 2024, with Liberty Global and Bpifrance leading the charge with significant deals, reflecting the active investment landscape.


Top 12 Telecommunications Infrastructure Investors in Europe


1. Accenture

  • Website: accenture.com
  • Type: Corporate
  • Headquarters: Dublin, Dublin, Ireland
  • Founded year: 2001
  • Headcount: 10001+
  • Number of deals in 2024: 51
  • LinkedIn: accenture

Accenture is a global consulting firm based in Dublin, Ireland, specializing in information technology and management consulting services. Founded in 2001, the company has grown to employ over 10,000 professionals and operates worldwide, providing innovative solutions across various industries. In 2024, Accenture has made significant strides in the telecommunications infrastructure sector through strategic acquisitions. Notably, it announced the acquisition of Fibermind, an Italy-based network services company focused on fiber and mobile 5G networks, aimed at enhancing its network engineering capabilities. Additionally, the acquisition of Award Solutions, a provider of training and consulting services in advanced wireless and network technologies, underscores Accenture's commitment to bolstering its offerings in the telecom sector. These transactions reflect Accenture's strategy to navigate digital transformation and improve efficiency in telecommunications infrastructure, aligning with its broader consulting services.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg that provides financial services, including loans, equity investments, guarantees, and advisory services, to support sustainable projects across various sectors. Founded in 1958, the EIB serves both public and private organizations seeking funding for initiatives that promote growth and job creation. In the telecommunications infrastructure context, the EIB has been involved in several notable transactions, such as a $455.2 million funding deal with Ericsson in December 2023, and a €315 million agreement with Cellnex Telecom to finance the expansion of 5G infrastructure across Europe in July 2023. Additionally, the EIB has supported Nokia and Ericsson through post-IPO debt transactions, further solidifying its role as a key investor in the telecommunications infrastructure sector.


3. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital firm based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. The firm aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Bpifrance has been involved in notable transactions in the telecommunications infrastructure sector, such as its investments in Sigfox, a leading provider of IoT connectivity, which raised significant funding rounds (Series D and E) to expand its global network. Additionally, Bpifrance invested in Actility, a company focused on LPWAN technology, which also secured funding to strengthen its market position. These transactions highlight Bpifrance's active role in supporting telecommunications infrastructure initiatives.


4. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. In the telecommunications infrastructure space, EQT has made significant strides with notable acquisitions including Zayo, a leading provider of communications infrastructure, acquired for $14.3 billion in March 2020. Additionally, EQT acquired Deutsche Glasfaser, a major player in the German fiber-optic market, for approximately $2.73 billion in February 2020. The firm also invested in Segra, a regional fiber network provider, further solidifying its presence in the telecommunications sector. Furthermore, EQT Infrastructure II Fund's acquisition of IslaLink, an operator of submarine fiber-optic cables in Spain, highlights its commitment to expanding telecommunications infrastructure capabilities. These transactions underscore EQT's strategic focus on enhancing telecommunications infrastructure, making it a relevant investor in this field.


5. Liberty Global

  • Website: libertyglobal.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2005
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: liberty-global

Liberty Global Ltd. is a prominent telecommunications company based in London, England, founded in 2005. With a workforce exceeding 10,000 employees, the company provides a diverse array of services, including gigabit broadband, 5G mobile services, and entertainment platforms. Liberty Global operates across multiple European countries, leveraging its extensive network infrastructure to serve both consumers and businesses. The company has been actively involved in various transactions that highlight its commitment to telecommunications infrastructure. Notably, Liberty Global participated in significant funding rounds for SES Networks, which raised substantial amounts in both debt financing and equity, indicating a focus on enhancing connectivity solutions. Additionally, their investment in Helium Inc. (now Nova Labs) showcases their interest in innovative telecommunications technologies, particularly in the realm of decentralized wireless networks. These transactions reflect Liberty Global's strategic positioning within the telecommunications infrastructure landscape.


6. Seraphim Space

  • Website: seraphim.vc
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: seraphim-capital

Seraphim Space is a London-based venture capital firm founded in 2016, specializing in SpaceTech investments. They provide funding and support to startups in the space technology sector, operating various investment funds and an accelerator program to help entrepreneurs navigate the challenges of developing innovative space solutions. In 2024, Seraphim Space participated in a Series C funding round for Skylo Technologies, a non-terrestrial network service provider, which aims to enhance connectivity for smartphones, wearables, and IoT devices. They also invested in AST SpaceMobile, a company focused on providing mobile connectivity through satellite technology. These transactions highlight their engagement in the telecommunications infrastructure space, despite their broader focus on SpaceTech.


7. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses in the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in several companies relevant to telecommunications infrastructure, including a £7.3 million investment in AdEPT Telecom, which provides IT services and telecommunications solutions. Additionally, BGF invested £5 million in Lumenisity, a firm specializing in fibre optic and cabling technology, aimed at commercializing research and expanding manufacturing capabilities. Other investments include Bigblu Broadband plc and Calnex Solutions, both of which are involved in telecommunications services and solutions, further demonstrating BGF's engagement in the telecommunications infrastructure sector.


8. Apax

  • Website: apax.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 201-500
  • Number of deals in 2024: 8
  • LinkedIn: apax-partners

Apax Partners LLP is a private equity firm based in London, England, founded in 1981. The firm specializes in managing investments across various sectors, including technology, internet/consumer, healthcare, and services. Apax collaborates with management teams of high-potential companies to drive growth and innovation. Among their notable transactions in the telecommunications infrastructure sector, Apax acquired Salt Mobile in December 2011 and Melita Plc in February 2016, both significant players in the telecommunications market. Additionally, they have invested in Bezeq Israeli Telecommunication Corp Ltd and Infovista, further showcasing their engagement in the telecommunications industry. Apax serves institutional investors seeking to enhance their capital through strategic investments in private equity funds, making them a versatile investor with a notable presence in telecommunications infrastructure.


9. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, focusing on sustainable growth. With a diverse portfolio and a strong international presence, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i Group has made significant investments in the telecommunications infrastructure sector, including the acquisition of Eltel in 2007, a company that provides critical telecommunications services. Additionally, in 2016, 3i Group acquired Wireless Infrastructure Group for approximately $421 million, further solidifying its position in the telecommunications infrastructure market. These transactions highlight 3i Group's commitment to investing in and supporting the growth of telecommunications infrastructure companies.


10. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG is a prominent investment bank and financial services provider based in Frankfurt, Hesse, Germany. Founded in 1870, the bank offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. It serves corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. Notably, Deutsche Bank has been involved in several significant transactions in the telecommunications infrastructure sector, such as providing debt financing for NBN Co, which raised over $1.4 billion in March 2023, and Vertical Bridge Holdings, which secured $500 million in September 2014. Additionally, the bank participated in financing CityFibre, which raised approximately $1.4 billion in December 2018, and Rostelecom, which raised $237 million in October 2013. These transactions highlight Deutsche Bank's active role in supporting the telecommunications infrastructure industry.


11. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Among their notable transactions, Almi has invested in several companies within the telecommunications infrastructure sector, including InCoax Network Europe, which raised over $1 million in 2012, and Maven Wireless, which secured nearly $2 million in 2018. Additionally, Almi has supported Sweratel and Forsway, both of which are involved in telecommunications, as well as BeammWave, which raised SEK 6.5 million in 2020. These investments highlight Almi's engagement in the telecommunications infrastructure industry, despite their broader focus on supporting SMEs across various sectors.


12. VINCI Energies

  • Website: vinci-energies.com
  • Type: Corporate
  • Headquarters: Nanterre, Île-De-France, France
  • Founded year: 2003
  • Headcount: 10001+
  • Number of deals in 2024: 13
  • LinkedIn: vinci-energies

VINCI Energies is a corporate investor based in Nanterre, Île-De-France, France, specializing in engineering and infrastructure solutions. Founded in 2003, the company has a workforce of over 10,000 employees and operates across various sectors, including energy infrastructure, industrial performance, digital transformation, and sustainable building management. In recent years, VINCI Energies has significantly expanded its presence in the telecommunications infrastructure sector through strategic acquisitions. Notable transactions include the acquisition of InfoTel, a Czech provider of telecommunication network services, and OFM, a German telecommunications infrastructure company. Additionally, VINCI Energies acquired HG Comms, a telecommunications engineering firm in the UK, and the Rhön-Montage Group, which specializes in FTTH broadband infrastructures in Germany. Most recently, they acquired SITS, a company focused on telecommunications and railway signaling infrastructure. These acquisitions highlight VINCI Energies' commitment to enhancing its telecommunications capabilities and its strategic focus on broadband and ICT solutions.



Telecommunications Infrastructure Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
AccentureDublin, Dublin, Ireland10001+200151
European Investment Bank (EIB)Luxembourg1001-5000195899
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Liberty GlobalLondon, England, United Kingdom (UK)10001+20057
Seraphim SpaceLondon, England, United Kingdom (UK)11-50201627
BgfLondon, England, United Kingdom (UK)51-200201153
ApaxLondon, England, United Kingdom (UK)201-50019818
3i Group plcLondon, England, United Kingdom (UK)201-50019453
Deutsche BankFrankfurt, Hesse, Germany10001+187032
AlmiStockholm, Stockholm, Sweden201-50019947
VINCI EnergiesNanterre, Île-De-France, France10001+200313


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