The networking hardware industry in Europe focuses on devices and infrastructure crucial for data communication. It involves companies that design, manufacture, and sell equipment like routers, switches, and optical networking tools. As connectivity demands grow with trends like 5G and the Internet of Things (IoT), this sector is evolving rapidly, emphasizing scalability and interoperability. Notably, Europe shows a robust push towards sustainable and innovative networking solutions, reflecting in increased funding for emerging technologies. Growth sectors include fiber infrastructure, smart home networking solutions, and advanced data management systems, indicating promising potential for future advancements and investments.


The list features 13 influential investors in the networking hardware sector across Europe, including private equity firms and venture capital entities. The investors are headquartered in key cities such as London, Stockholm, and Paris. With founding years ranging from 1945 to 2016, they represent various sizes, from small firms managing fewer than ten employees to larger corporations with over 5,000 staff. In 2024, these investors collectively engaged in over 500 funding rounds, significantly impacting the networking landscape.


Top 13 Networking Hardware Investors in Europe


1. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor 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 and private equity investments. The firm aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Bpifrance has been involved in several notable transactions in the networking hardware sector, including a €115 million investment in Wifirst, which focuses on Wi-Fi solutions, and multiple funding rounds for SIGFOX, a leading provider of IoT connectivity. Additionally, their investment in Scintil Photonics, which specializes in silicon photonic integrated circuits for optical interconnects, highlights their commitment to advancing networking technologies. These transactions illustrate Bpifrance's active role in the networking hardware industry, making it a significant player in this space.


2. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In 2024, the EIB has made 99 investments, showcasing its active role in financing initiatives that promote growth and job creation. Notably, the EIB has been involved in significant transactions within the networking hardware industry, including a $584 million post-IPO debt raised by Nokia in 2018, and a $455.2 million funding deal with Ericsson in December 2023. Additionally, Ericsson raised $293 million in post-IPO debt in June 2018, and Atea secured $55 million in April 2023. The EIB also financed Cellnex Telecom with €315 million to support the expansion of 5G infrastructure across Europe in July 2023. These transactions highlight the EIB's commitment to investing in the networking hardware sector, making it a relevant player in this field.


3. 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 invested in Netrounds, which raised $1,000,000 in a seed round in 2013, and InCoax Network Europe, which raised $1,046,601 in a venture round in 2012. These investments highlight Almi's engagement in the networking hardware sector, showcasing their commitment to supporting innovative companies in this field.


4. 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, helping them grow sustainably. With a strong international presence and a diverse portfolio, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i has been involved in several transactions relevant to the networking hardware industry, including a $20 million investment in Netronome Systems Inc. during a Series C financing round to support its virtualization vision. Additionally, 3i has made multiple investments in Polatis, a company focused on optical networking solutions, raising significant funds across various rounds. These transactions highlight 3i's active role in the networking hardware sector, reinforcing its relevance as an investor in this field.


5. 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 founded in 1994, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Based in Stockholm, Sweden, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the networking hardware and infrastructure space, including the acquisition of Zayo for $14.3 billion in 2020, which is a leading provider of communications infrastructure. Additionally, EQT acquired Segra, a regional fiber network provider, and EdgeConneX, which focuses on edge data centers, further emphasizing their commitment to the networking sector. Their acquisition of GlobalConnect, a company that provides connectivity and data center services, also aligns with their strategy in the networking hardware industry. These transactions highlight EQT's active role in shaping the networking landscape.


6. 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, providing a wide range of services including gigabit broadband, 5G mobile services, and entertainment platforms. Founded in 2005, the company serves both consumers and businesses across multiple European countries, leveraging its extensive network infrastructure. Liberty Global has made significant investments in the networking hardware sector, including a $30 million investment in Tibit Communications, which is focused on scaling its 25G ASIC program. They have also participated in multiple funding rounds for Plume Design, a company that specializes in smart home services and relies on advanced networking technology. Their investment in Technetix further highlights their commitment to supporting companies that contribute to the networking hardware ecosystem.


7. Swisscom Ventures


Swisscom Ventures is a venture capital firm based in Zurich, Switzerland, founded in 2007. The firm specializes in investing in high-potential technology startups, providing not only financial support but also strategic advisory services to help these startups access technical infrastructure and market channels. Swisscom Ventures operates across various technology sectors, including AI and Fintech, but has also made significant investments in the networking hardware industry. Notably, they participated in funding rounds for Tibit Communications, which raised $30 million in Series C funding to accelerate its 25G ASIC program, and $20 million in Series B funding for its access devices for Passive Optical Networking (PON). Additionally, they led a Series A funding round for Netrounds, a provider of software-based active testing and monitoring solutions, further showcasing their engagement in the networking hardware domain.


8. 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, UK, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses across various sectors 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 companies relevant to the networking hardware industry, such as Lumenisity, a fibre optic and cabling technology firm, where they contributed £5 million to a £7.5 million funding round aimed at commercializing research and building a new manufacturing facility. Additionally, BGF has invested in Calnex Solutions and Sub10 Systems, both of which are involved in networking technologies, further demonstrating their engagement in this sector. Their diverse portfolio and focus on growth make them a significant player in the venture capital landscape.


9. Amadeus Capital Partners


Amadeus Capital Partners is a venture capital firm based in London, England, founded in 1997. The firm specializes in investing in technology companies across various sectors, including AI, Cyber Security, and FinTech. They provide funding and strategic support to help startups and growth-stage companies scale their operations and bring innovative technologies to market. Notably, Amadeus has made significant investments in the networking hardware context, such as their involvement with Nu Quantum, a quantum networking startup that raised £7M in a Pre-Series A round, and iPronics, which focuses on photonic computing. These investments highlight their commitment to advancing technologies that are crucial for the future of networking hardware.


10. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (LDC) is a private equity firm based in London, England, specializing in providing growth capital and strategic support to mid-market businesses across various sectors. Founded in 1981, LDC is part of Lloyds Banking Group and focuses on fostering long-term partnerships to drive business success. Among their notable transactions, LDC has invested in Wifinity, a company that provides wireless networking solutions, and Commsworld, which offers telecommunications services. Additionally, LDC backed the management buyout of Giacom World Networks, a cloud IT and communications solutions provider, further emphasizing their involvement in the networking and communications space. These investments highlight LDC's active role in supporting companies that contribute to the networking hardware industry.


11. 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, serving institutional investors seeking to enhance their capital through strategic investments in private equity funds. Notably, Apax has been involved in several transactions relevant to the networking hardware industry, such as their investment in MeshNetworks, which raised $26 million in Series B funding, and their acquisition of Bezeq Israeli Telecommunication Corp Ltd, a significant player in the telecommunications sector. Additionally, their investment in Melita Plc, a leading telecommunications operator in Malta, further highlights their engagement in the networking space. These transactions demonstrate Apax's active role in the networking hardware and telecommunications sectors, reinforcing their position as a relevant investor in this field.


12. Index Ventures

  • Website: indexventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1996
  • Headcount: 51-200
  • Number of deals in 2024: 67
  • LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, providing capital and strategic support to entrepreneurs. Notably, Index Ventures has invested in companies relevant to the networking hardware industry, such as eero, which raised $50 million in Series B funding in 2016 for its home Wi-Fi systems, and Fon, a Spanish startup that raised $13 million in 2007 to expand its Wi-Fi network. Fon has been instrumental in building a community-driven Wi-Fi network, showcasing Index Ventures' interest in networking solutions. Additionally, they have invested in Hi Net, which also indicates their engagement in the networking space. Overall, Index Ventures is focused on building long-term partnerships with founders to drive success across various innovative sectors, including networking hardware.


13. Ericsson

  • Website: ericsson.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1876
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: ericsson

Ericsson is a telecommunications company based in Stockholm, Sweden, founded in 1876. With over 10,000 employees, Ericsson specializes in providing advanced connectivity solutions, including 5G networks and IoT platforms, aimed at enhancing operational efficiency and user experiences across various industries. Notably, Ericsson has made significant investments in the networking hardware space, including the acquisition of Cradlepoint for $1.1 billion, which aims to bolster their 5G enterprise offerings. Additionally, Ericsson has participated in funding rounds for Pluribus Networks, contributing to their Series D round alongside other investors, which highlights their strategic interest in networking technologies. These transactions underscore Ericsson's active role in the networking hardware industry, making them a relevant investor in this sector.



Networking Hardware Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
European Investment Bank (EIB)Luxembourg1001-5000195899
AlmiStockholm, Stockholm, Sweden201-50019947
3i Group plcLondon, England, United Kingdom (UK)201-50019453
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Liberty GlobalLondon, England, United Kingdom (UK)10001+20057
Swisscom VenturesZurich, Zurich, Switzerland11-5020074
BgfLondon, England, United Kingdom (UK)51-200201153
Amadeus Capital PartnersLondon, England, United Kingdom (UK)11-5019977
LdcLondon, England, United Kingdom (UK)51-200198115
ApaxLondon, England, United Kingdom (UK)201-50019818
Index VenturesLondon, England, United Kingdom (UK)51-200199667
EricssonStockholm, Stockholm, Sweden10001+18763


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