# Corporate VCs backing Telecoms (2026 list) > 39 corporate VCs backing Telecoms, 97% active in the last 12 months. Led by Wayra, Intel Capital, Google Ventures. Ranked by what they funded. Source: https://millionrounds.com/lists/corporate-vcs-telecom (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Corporate VCs backing Telecoms Updated 7 November 2026 Corporate VCs we have observed in a telecoms round in the last two years. [See all 39 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-telecom)The top 25 **39** investors on the list *+1* this week **692** cheques in 12 months *-3%* against the market **$23M** median round they joined *+189%* against the market median **97%** wrote a cheque in 12 months **56%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (24) - 1 [Wayra](https://millionrounds.com/fund/wayra) *Deploying now* Corporate VC · Germany **1,160** **$2M** median round **Sept 2026** last seen - 2 [Intel Capital](https://millionrounds.com/fund/intel-capital) *Deploying now* Corporate VC · United States **1,123** **$22M** median round **Oct 2026** last seen - 3 [Google Ventures](https://millionrounds.com/fund/gv) *Deploying now* Corporate VC · United States **884** **$38M** median round **Oct 2026** last seen - 4 [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) *Deploying now* Corporate VC · United States **649** **$26M** median round **Nov 2026** last seen - 5 [Coinbase Ventures](https://millionrounds.com/fund/coinbase) *Deploying now* Corporate VC · United States **465** **$9.8M** median round **Nov 2026** last seen - 6 [Samsung Next](https://millionrounds.com/fund/samsung-next) *Deploying now* Corporate VC · United States **311** **$15M** median round **Nov 2026** last seen - 7 [Z Venture Capital](https://millionrounds.com/fund/z-venture-capital) *Deploying now* Corporate VC · Japan **200** **$10M** median round **Oct 2026** last seen - 8 [Qualcomm](https://millionrounds.com/fund/qualcomm) *Deploying now* Corporate VC · United States **161** **$49M** median round **Aug 2026** last seen - 9 [Deutsche Bank](https://millionrounds.com/fund/deutsche-bank) *Deploying now* Corporate VC · Germany **144** **$175M** median round **Nov 2026** last seen - 10 [Cisco Investments](https://millionrounds.com/fund/cisco-investments) *Deploying now* Corporate VC · United States **128** **$30M** median round **Oct 2026** last seen - 11 [Rabobank](https://millionrounds.com/fund/rabobank) *Deploying now* Corporate VC · Netherlands **122** **$3.2M** median round **Nov 2026** last seen - 12 [SE Ventures](https://millionrounds.com/fund/se-ventures) *Deploying now* Corporate VC · United States **112** **$16M** median round **Oct 2026** last seen - 13 [Endeavor](https://millionrounds.com/fund/endeavor) *Deploying now* Corporate VC · United States **106** **$25M** median round **Sept 2026** last seen - 14 [British Business Bank](https://millionrounds.com/fund/national-security-strategic-investment-fund) *Deploying now* Corporate VC · United Kingdom **105** **$6.3M** median round **Nov 2026** last seen - 15 [Protocol Labs](https://millionrounds.com/fund/protocol-labs) *Deploying now* Corporate VC · United States **87** **$4.3M** median round **Apr 2026** last seen - 16 [Swisscom Ventures](https://millionrounds.com/fund/swisscom-ventures) *Deploying now* Corporate VC · Switzerland **83** **$17M** median round **Jul 2026** last seen - 17 [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha) *Deploying now* Corporate VC · India **79** **$2.5M** median round **Nov 2026** last seen - 18 [Bosch Ventures](https://millionrounds.com/fund/bosch-ventures) *Deploying now* Corporate VC · Germany **75** **$35M** median round **Oct 2026** last seen - 19 [HubSpot Ventures](https://millionrounds.com/fund/hubspot-ventures) *Deploying now* Corporate VC · United States **64** **$25M** median round **Nov 2026** last seen - 20 [TDK Ventures](https://millionrounds.com/fund/tdk-ventures) *Deploying now* Corporate VC · United States **56** **$27M** median round **Sept 2026** last seen - 21 [ESA](https://millionrounds.com/fund/european-space-agency) *Deploying now* Corporate VC · France **55** **$1.1M** median round **Jul 2026** last seen - 22 [CapitalG](https://millionrounds.com/fund/capitalg) *Deploying now* Corporate VC · Canada **51** **$213M** median round **Oct 2026** last seen - 23 [Munich Re Ventures](https://millionrounds.com/fund/munich-re-ventures) *Deploying now* Corporate VC · United States **46** **$23M** median round **Nov 2026** last seen - 24 [Liberty Global](https://millionrounds.com/fund/liberty-global) dormant Corporate VC · United Kingdom **37** **$30M** median round **Nov 2024** last seen - 25 [NetEase](https://millionrounds.com/fund/netease) *Deploying now* Corporate VC · Japan **33** **$30M** median round **Oct 2026** last seen **14 more on this list** All 39 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-telecom) ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Vensum Power](https://millionrounds.com/company/vensum-power)** Series A · $10M *Led by* [Eviny Ventures](https://millionrounds.com/fund/eviny-ventures) - **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *Led by* [British Business Bank](https://millionrounds.com/fund/national-security-strategic-investment-fund) - **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Coinbase Ventures](https://millionrounds.com/fund/coinbase) - **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [Samsung Next](https://millionrounds.com/fund/samsung-next) - **5** Nov **[Return](https://millionrounds.com/company/return)** Debt · $936M *With* [Deutsche Bank](https://millionrounds.com/fund/deutsche-bank) - **5** Nov **[CesiumAstro](https://millionrounds.com/company/cesiumastro)** Series D+ · $730M *With* [Woven Capital](https://millionrounds.com/fund/woven-capital) ## Stages This Year 647 rounds - Series A **21%** - Seed **13%** - Venture **13%** - Series B **12%** - Series C **9%** - Other **31%** ## What They Backed Sectors, last 12 months - AI **271** - Fintech **61** - Big Data & Analytics **57** - Web3 & Crypto **46** - Energy **37** - Cloud **36** ## Cheques by Quarter Led Joined 177 Q1 25 177 Q2 25 197 Q3 25 220 Q4 25 226 Q1 26 187 Q2 26 144 Q3 26 51 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai) - [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech) - [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data) - [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech) - [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics) - [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction) - [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy) - [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai) - [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about corporate VCs backing Telecoms ### Who are the most active corporate VCs backing Telecoms? By cheques observed, the most active are Wayra, Intel Capital, Google Ventures, Salesforce Ventures and Coinbase Ventures. ### How many corporate VCs backing Telecoms are there? 39 are on record. 97% made an investment in the last 12 months and 56% have led a round. ### Which stages do corporate VCs backing Telecoms back? Of the rounds with a named stage in the last 12 months, mostly Series A (27%) and Seed (17%). ### How big are the rounds corporate VCs backing Telecoms join? The typical (median) round among the leading investors here is $23M. ### Which sectors do corporate VCs backing Telecoms back most? In the last 12 months, mostly AI, Fintech and Big Data & Analytics. ### Which corporate VCs backing Telecoms lead the most rounds? Google Ventures (33 led), CapitalG (20 led) and Intel Capital (19 led). ### Where are corporate VCs backing Telecoms based? Among the most active, most are based in the United States (13), Germany (3) and Japan (2). ### What have corporate VCs backing Telecoms invested in recently? Recent rounds include Vensum Power (Series A, Nov 2026, with Eviny Ventures), T-Therapeutics (Series B, Nov 2026, with British Business Bank) and Soter Insure (Series B, Nov 2026, with Coinbase Ventures). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)