The internet service provider industry in DACH focuses on delivering connectivity solutions to millions of users. Companies range from large telecom giants to innovative startups, providing services like broadband, mobile internet, and cloud applications. With increasing demand for high-quality connectivity, firms in this sector are investing in advanced technologies, including fibre optics and 5G networks. The growth of smart devices and the Internet of Things is driving this industry toward rapid transformation, pushing providers to offer faster and more reliable services while addressing cybersecurity concerns alongside customer demands for transparency and sustainability.


The investors listed comprise a mix of private equity firms, venture capitalists, and corporate backers based in various locations across DACH. They range in size from nimble teams to large institutions, representing investment histories that extend back to the late 19th century. In 2024, these investors completed numerous deals, with a focus on companies in the internet service provider space. Their strategic investments reflect not just capital flow, but a commitment to enhancing connectivity and innovation in one of Europe's most promising sectors.


Top 15 Internet Service Provider Investors in DACH


1. 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, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a leading investment bank and financial services provider. 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. In recent years, Deutsche Bank has been involved in several notable transactions within the internet service provider sector. For instance, they participated in a $1.4 billion debt financing for NBN Co in March 2023, which is crucial for expanding Australia's national broadband network. Additionally, they were part of a $1.4 billion debt financing for CityFibre in December 2018, aimed at enhancing fiber broadband infrastructure in the UK. Furthermore, Deutsche Bank contributed to the debt financing of FirstDigital Telecom, showcasing their active role in supporting internet service providers and infrastructure development.


2. Swisscom Ventures


Swisscom Ventures is a Zurich-based venture capital firm founded in 2007, specializing in high-potential technology startups. With a focus on providing financial support and strategic advisory services, they help startups access technical infrastructure and market channels. Their investment portfolio spans various technology sectors, including AI and Fintech, but they have also made significant contributions to the internet service provider industry. Notably, they participated in the Series C funding round for Tibit Communications, which raised $30 million to enhance its 25G ASIC program and manufacturing capabilities. Additionally, they have invested in ASSIA, a company that has raised substantial funding to develop broadband access solutions. These transactions highlight Swisscom Ventures' commitment to empowering innovative companies within the internet service provider space.


3. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Among their notable transactions in the internet service provider context, Partners Group acquired a 75% equity stake in EOLO, Italy's largest fixed wireless access broadband provider, valuing the company at over €1.2 billion. They also acquired Axia NetMedia, a Canadian fibre business, marking their second investment in the fibre sector within a year. Furthermore, Partners Group provided equity for Seaborn Networks, which is involved in the Seabras-1 subsea cable project connecting New York and Sao Paulo, highlighting their engagement in critical internet infrastructure projects. These investments reflect Partners Group's strategic focus on enhancing connectivity and supporting the growth of internet service providers.


4. Deutsche Telekom

  • Website: telekom.com
  • Type: Corporate
  • Headquarters: Bonn, North Rhine-Westphalia, Germany
  • Founded year: 1995
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: telekom

Deutsche Telekom AG, founded in 1995 and headquartered in Bonn, North Rhine-Westphalia, Germany, is a leading telecommunications company with a workforce of over 10,000 employees. The company provides a comprehensive range of services, including mobile communications, fixed-network, broadband, and ICT solutions for both consumers and businesses. With a strong presence in over 50 countries, Deutsche Telekom focuses on delivering integrated digital solutions to enhance connectivity and support digital transformation. Notable transactions include the acquisition of T-Mobile in 2014 for approximately $1.13 billion, which expanded their mobile service capabilities. In 2013, they announced the acquisition of GTS Central Europe for €546 million, aimed at enhancing their fixed-line capabilities and expanding telecommunications services in Central Europe. More recently, in 2022, Deutsche Telekom acquired a minority stake in Teridion Technologies, a company focused on improving internet connectivity solutions. These transactions highlight Deutsche Telekom's active role in the internet service provider industry.


5. Deg

  • Website: deginvest.de
  • Type: Corporate
  • Headquarters: Neunkirchen, North Rhine-Westphalia, Germany
  • Founded year: 1962
  • Headcount: 501-1000
  • Number of deals in 2024: 17
  • LinkedIn: deg

DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is a public entity that operates as a development finance institution, founded in 1962 and based in Neunkirchen, North Rhine-Westphalia, Germany. It provides long-term financing and advisory services to private enterprises in developing and emerging markets, with a strong focus on sustainable development and job creation. DEG supports businesses across various sectors, including agriculture, manufacturing, and infrastructure, helping them access capital and expert guidance for growth. Notably, DEG has participated in significant transactions relevant to the internet service provider context, such as the investment in Africa Mobile Networks, which raised USD 36 million to enhance connectivity in rural Africa. This investment is part of a broader consortium aimed at expanding internet access through the establishment of over 5,000 towers across more than 15 countries. Additionally, DEG has been involved in financing Liquid Intelligent Technologies, which raised $840 million, further indicating its interest in supporting telecommunications and internet infrastructure development.


6. Dtcp


DTCP (dtcp.capital) is a venture capital firm based in Hamburg, Germany, founded in 2015. The firm specializes in growth equity and infrastructure investments, primarily targeting transformative technology leaders and digital infrastructure to support their growth and accelerate digital transformation. DTCP has been involved in several notable transactions relevant to the internet service provider context. For instance, they participated in a $5.68 million debt financing round for Fon, a company focused on Wi-Fi sharing and connectivity. They also led a $40 million Series E funding round for Fastly, an edge cloud platform that enhances internet services, and invested in RtBrick, a cloud-infrastructure networking startup that raised $6 million in Series A funding. These investments highlight DTCP's commitment to supporting companies that are integral to the internet service provider ecosystem.


7. Speedinvest

  • Website: speedinvest.com
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: speedinvest

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these startups scale their operations. Speedinvest's investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, they have been involved in several transactions relevant to the internet service provider industry, particularly their investments in Sipwise, a company that offers software solutions for telecommunications and internet service providers. Speedinvest participated in multiple funding rounds for Sipwise, including Series A rounds in 2012 and 2014, as well as additional venture rounds in subsequent years. This involvement highlights their interest in supporting companies that contribute to the internet service provider landscape, leveraging their extensive network of industry experts to assist portfolio companies in navigating growth challenges.


8. Deutsche Beteiligungs AG

  • Website: dbag.com
  • Type: Private Equity
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1965
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: deutsche-beteiligungs-ag

Deutsche Beteiligungs AG (DBAG) is a private equity firm based in Frankfurt, Hesse, Germany, specializing in investments in mid-sized companies. Founded in 1965, DBAG focuses on providing capital and advisory services to enhance the growth potential of its portfolio companies, primarily in sectors such as telecommunications, IT services, software, and healthcare. The firm has a notable track record in the telecommunications sector, having made significant investments in companies like Netzkontor Nord, where they acquired a majority stake, and participated in funding rounds for other relevant companies such as inexio and DNS:Net. With over 55 years of experience, DBAG operates a successful fund advisory business, demonstrating its commitment to fostering growth in the sectors it invests in.


9. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. With over €2.8 billion under management, HV Capital specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit. They have been involved in various funding rounds, including notable investments in ZenMate, which offers internet security solutions, indicating their engagement in the internet services sector. Additionally, they have invested in Limehome, a hospitality tech company, which, while not directly an internet service provider, operates in a digital context that may intersect with internet services. Their diverse portfolio reflects a commitment to supporting innovative digital solutions across Europe.


10. Earlybird Venture Capital


Earlybird Venture Capital is a venture capital firm founded in 1997, based in Germany, that specializes in investing in European technology innovators. They provide financial resources and strategic support to startups, particularly in the digital health and deep tech sectors. Earlybird has been active in nurturing early-stage companies through funding and mentorship, helping them navigate growth challenges. Notably, they have invested in NFON, a cloud-based telecommunications provider, which highlights their engagement in the internet service provider industry. Other transactions include investments in Esmertec, which, while not directly an internet service provider, operates in the technology space, indicating their broader interest in tech-related ventures.


11. Swisscom

  • Website: swisscom.ch
  • Type: Corporate
  • Headquarters: Ittigen, Bern, Switzerland
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: swisscom

Swisscom AG, based in Ittigen, Bern, Switzerland, is a leading telecommunications provider that was founded in 1998. The company offers a comprehensive range of services, including mobile communication, broadband internet, and television, catering to both individual consumers and businesses. In 2024, Swisscom made a significant move by acquiring Vodafone Italia, which strengthens its position in the internet service provider market. Additionally, Swisscom has a history of strategic acquisitions, such as Antenna Hungaria in 2005 and Publigroupe S.A. in 2014, which have allowed them to enhance their service offerings and expand their reach in the telecommunications landscape. With over 10,000 employees and a commitment to providing essential connectivity solutions, Swisscom plays a vital role in the digital landscape of Switzerland and beyond.


12. United Internet AG


United Internet AG, founded in 1988 and based in Montabaur, Rhineland-Palatinate, Germany, is a prominent internet service provider that delivers a wide range of services including broadband access, mobile internet, cloud applications, and email services. The company caters to both consumers and businesses, addressing the increasing demand for connectivity and data management. United Internet AG has made strategic acquisitions to bolster its market position, such as acquiring 100% of Versatel shares in 2014, which significantly enhanced its telecommunications capabilities. In 2016, they acquired Strato AG from Deutsche Telekom for 600 million euros, further solidifying their presence in the European hosting and cloud application market. Additionally, their investment in ProfitBricks, a cloud hosting specialist, showcases their focus on expanding their cloud services portfolio. These transactions reflect United Internet AG's active role in the internet service provider industry, making them a key player in the sector.


13. Momenta

  • Website: momenta.one
  • Type: Venture Capital
  • Headquarters: Engelberg, Obwalden, Switzerland
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: momentapartners

Momenta is a venture capital firm based in Engelberg, Obwalden, Switzerland, founded in 2012. The firm specializes in industrial impact and digital transformation, providing strategic investments and advisory services to Fortune 500 companies and innovative startups across various sectors, including energy, manufacturing, smart spaces, and supply chain. In recent years, Momenta has made several notable investments, including in Thingstream, a Zurich-based provider of IoT Connectivity-as-a-Service, which received funding to accelerate its go-to-market activities. This investment highlights Momenta's engagement in the internet service provider context, as connectivity is a critical component of internet services. Additionally, Momenta has participated in seed rounds for companies like Axino Solutions and Expeto, further demonstrating its commitment to supporting innovative solutions that may intersect with internet service provision.


14. Wellington Partners


Wellington Partners is a venture capital firm based in Munich, Bavaria, Germany, founded in 1998. While they primarily specialize in life sciences, investing in early- and growth-stage companies in sectors such as therapeutics and medical devices, they have also made significant investments in technology-related companies. Notably, they participated in funding rounds for Truphone, a VOIP company, raising substantial amounts in both Series A and Series B rounds, indicating their interest in telecommunications and internet services. Additionally, their investment in WLAN AG, which raised funds for wireless networking solutions, showcases their involvement in the internet service provider context. Overall, Wellington Partners combines a focus on innovative technologies with a history of supporting companies that contribute to the internet and telecommunications landscape.


15. Meag

  • Website: meag.com
  • Type: Corporate
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 1999
  • Headcount: 501-1000
  • Number of deals in 2024: 5
  • LinkedIn: meag

MEAG Munich Ergo Assetmanagement GmbH is an asset management company based in Flensburg, Schleswig-Holstein, Germany, founded in 1999. The firm specializes in managing a diverse range of asset classes, including bonds, equities, real estate, and renewable energy investments, with a focus on achieving sustainable growth for its clients. In recent years, Meag has made notable investments in the internet service provider sector, including a significant debt financing round for euNetworks Group, which raised approximately $858 million to enhance its high-capacity bandwidth services. Additionally, they participated in a private equity round for Vantage Data Centers, raising over $1.4 billion, which is critical for expanding data center capabilities essential for internet services. Furthermore, their investment in LiveOak Fiber highlights their commitment to supporting fiber-optic infrastructure, further solidifying their role in the internet service provider landscape.



Internet Service Provider Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Deutsche BankFrankfurt, Hesse, Germany10001+187032
Swisscom VenturesZurich, Zurich, Switzerland11-5020074
Partners GroupBaar, Zug, Switzerland1001-5000199619
Deutsche TelekomBonn, North Rhine-Westphalia, Germany10001+19951
DegNeunkirchen, North Rhine-Westphalia, Germany501-1000196217
DtcpHamburg, Hamburg, Germany51-20020156
SpeedinvestVienna, Vienna, Austria51-200201145
Deutsche Beteiligungs AGFrankfurt, Hesse, Germany51-20019652
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
Earlybird Venture CapitalGermany51-200199729
SwisscomIttigen, Bern, Switzerland10001+19982
United Internet AGMontabaur, Rhineland-Palatinate, Germany10001+19880
MomentaEngelberg, Obwalden, Switzerland11-5020127
Wellington PartnersMunich, Bavaria, Germany11-5019989
MeagFlensburg, Schleswig-Holstein, Germany501-100019995


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