Etel Group, a central European corporate telecoms service provider, has raised $50m (€58.75m) in private equity, led by the venture capital arm of Dresdner Kleinwort Benson.

Other investors in the financing are Argus Capital Partners, a private equity fund sponsored by the Prudential Insurance Company of America Greenhill Capital Partners, a New York-based investment fund and Intel Capital. ING Barings acted as advisor to Etel.