The private equity firm Grain Management, bidding as New Level II in the C-band auction, came in as the fifth largest winner of spectrum spending $1.2 billion.
It won 10 licenses in 10 markets - one license per market - in larger cities, including Los Angeles, San Francisco, Baltimore, San Antonio and Austin.
The company didn’t reply to a request for comment, but according to its website Grain Management, which was founded in 2007, specializes in private equity transactions in the communications industry.
It primarily invests across five verticals: towers, fiber, spectrum, small cells and satellites. “Dramatic growth in mobile data traffic and sustained investment in broadband infrastructure are at the core of our thematic and targeted investment strategy,” according to the company.
Grain indicated about a year ago that it was interested in C-band, stating in a corporate message, "The essentiality of 5G is not paused by disruption, but rather hastened along by our need to remain connected. The upcoming C-band spectrum auction, which could generate significant investment opportunity, is a prime example of the constant, exponential demand growth that exists in our industry."