# PE firms backing Telecoms (2026 list) > 85 PE firms backing Telecoms, 92% active in the last 12 months. Led by Gaingels, Goldman Sachs, Citibank. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-telecom (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms backing Telecoms Updated 7 November 2026 PE firms we have observed in a telecoms round in the last two years. [See all 85 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-telecom)The top 25 **85** investors on the list *+7* this week **945** cheques in 12 months *-1%* against the market **$126M** median round they joined *+1476%* against the market median **92%** wrote a cheque in 12 months **55%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [Gaingels](https://millionrounds.com/fund/gaingels) *Deploying now* Private equity · United States **1,010** **$8M** median round **Oct 2026** last seen - 2 [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) *Deploying now* Private equity · United States **758** **$73M** median round **Oct 2026** last seen - 3 [Citibank](https://millionrounds.com/fund/citi) *Deploying now* Growth equity · United States **566** **$20M** median round **Oct 2026** last seen - 4 [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) *Deploying now* Private equity · United States **551** **$2.9M** median round **Nov 2026** last seen - 5 [Summit Partners](https://millionrounds.com/fund/summit-partners) *Deploying now* Private equity · United States **356** **$81M** median round **Oct 2026** last seen - 6 [General Atlantic](https://millionrounds.com/fund/general-atlantic) *Deploying now* Private equity · United States **273** **$127M** median round **Oct 2026** last seen - 7 [Business Growth Fund](https://millionrounds.com/fund/bgf) *Deploying now* Private equity · United Kingdom **260** **$9.9M** median round **Nov 2026** last seen - 8 [K5 Global](https://millionrounds.com/fund/k5-global) *Deploying now* Private equity · United States **199** **$11M** median round **Oct 2026** last seen - 9 [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton) *Deploying now* Private equity · United States **198** **$64M** median round **Nov 2026** last seen - 10 [Bond](https://millionrounds.com/fund/bond) *Deploying now* Growth equity · United States **154** **$47M** median round **Sept 2026** last seen - 11 [Foresight Group](https://millionrounds.com/fund/foresight-group) *Deploying now* Private equity · United Kingdom **132** **$4M** median round **Oct 2026** last seen - 12 [Edison Partners](https://millionrounds.com/fund/edison-partners) *Deploying now* Private equity · United States **118** **$15M** median round **Oct 2026** last seen - 13 [JMI Equity](https://millionrounds.com/fund/jmi-equity) *Deploying now* Private equity · United States **116** **$50M** median round **Sept 2026** last seen - 14 [Blackstone Group](https://millionrounds.com/fund/blackstone-group) *Deploying now* Private equity · United States **98** **$200M** median round **Sept 2026** last seen - 15 [GIC](https://millionrounds.com/fund/gic) *Deploying now* Private equity · Singapore **92** **$200M** median round **Oct 2026** last seen - 16 [Space Capital](https://millionrounds.com/fund/space-capital-2) *Deploying now* Private equity · Italy **79** **$12M** median round **Oct 2026** last seen - 17 [Sorenson Capital](https://millionrounds.com/fund/sorenson-capital) *Deploying now* Private equity · United States **74** **$25M** median round **Oct 2026** last seen - 18 [Fortress Investment](https://millionrounds.com/fund/fortress-investment-group) *Deploying now* Private equity · United States **61** **$100M** median round **Sept 2026** last seen - 19 [CPP Investments](https://millionrounds.com/fund/cpp-investments) *Deploying now* Growth equity **59** **$200M** median round **Oct 2026** last seen - 20 [SBI Group](https://millionrounds.com/fund/sbi-group) *Deploying now* Growth equity **57** **$14M** median round **Nov 2026** last seen - 21 [Washington Harbour Partners Lp](https://millionrounds.com/fund/washington-harbour-partners-lp) *Deploying now* Private equity · United States **52** **$60M** median round **Nov 2026** last seen - 22 [Raptor Group](https://millionrounds.com/fund/raptor-group) *Deploying now* Private equity · United States **50** **$15M** median round **Sept 2026** last seen - 23 [IAG Capital Partners](https://millionrounds.com/fund/iag-capital-partners) *Deploying now* Private equity · United States **46** **$15M** median round **Sept 2026** last seen - 24 [Gresham House Ventures](https://millionrounds.com/fund/gresham-house-ventures) *Deploying now* Growth equity · United Kingdom **40** **$6.6M** median round **Sept 2026** last seen - 25 [VentureTech Alliance](https://millionrounds.com/fund/venturetech-alliance) *Deploying now* Growth equity · United States **40** **$155M** median round **Jun 2026** last seen **60 more on this list** All 85 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%2Fpe-firms-telecom) ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *With* [PSP Growth](https://millionrounds.com/fund/psp-growth) - **6** Nov **[Harbinger](https://millionrounds.com/company/harbinger)** Series D+ · $240M *Led by* [Capricorn's Technology Impact Fund](https://millionrounds.com/fund/capricorn-s-technology-impact-fund) - **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Business Growth Fund](https://millionrounds.com/fund/bgf) - **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Franklin Templeton](https://millionrounds.com/fund/franklin-templeton) - **5** Nov **[Nyquis](https://millionrounds.com/company/nyquis)** Seed · $6.3M *With* [Pioneer Fund](https://millionrounds.com/fund/pioneer-fund-2) - **5** Nov **[CesiumAstro](https://millionrounds.com/company/cesiumastro)** Series D+ · $730M *With* [Sands Capital Management](https://millionrounds.com/fund/sands-capital) ## Stages This Year 852 rounds - Venture **21%** - Debt **13%** - Series A **11%** - Seed **10%** - Growth **10%** - Other **36%** ## What They Backed Sectors, last 12 months - AI **313** - Fintech **80** - Aerospace & Space **72** - Big Data & Analytics **58** - Biotech **51** - Financial Services **46** ## Cheques by Quarter Led Joined 226 Q1 25 240 Q2 25 271 Q3 25 308 Q4 25 293 Q1 26 275 Q2 26 183 Q3 26 71 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 PE firms backing Telecoms ### Who are the most active PE firms backing Telecoms? By cheques observed, the most active are Gaingels, Goldman Sachs, Citibank, Pioneer Fund and Summit Partners. ### How many PE firms backing Telecoms are there? 85 are on record. 92% made an investment in the last 12 months and 55% have led a round. ### Which stages do PE firms backing Telecoms back? Of the rounds with a named stage in the last 12 months, mostly Debt (19%) and Series A (16%). ### How big are the rounds PE firms backing Telecoms join? The typical (median) round among the leading investors here is $25M. ### Which sectors do PE firms backing Telecoms back most? In the last 12 months, mostly AI, Fintech and Aerospace & Space. ### Which PE firms backing Telecoms lead the most rounds? General Atlantic (32 led), Goldman Sachs (22 led) and GIC (17 led). ### Where are PE firms backing Telecoms based? Among the most active, most are based in the United States (18), the United Kingdom (3) and Singapore (1). ### What have PE firms backing Telecoms invested in recently? Recent rounds include Ocient (Series C, Nov 2026, with PSP Growth), Harbinger (Series D+, Nov 2026, with Capricorn's Technology Impact Fund) and T-Therapeutics (Series B, Nov 2026, with Business Growth Fund). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)