We provide evidence of the relation between supersymmetric gauge theories and matrix models beyond the planar limit. We compute gravitational R^2 couplings in gauge theories perturbatively, by summing genus one matrix model diagrams. These diagrams give the leading 1/N^2 corrections in the large N limit of the matrix model and can be related to twist field correlators in a collective conformal field theory. In the case of softly broken SU(N) N=2 super Yang-Mills theories, we find that these exact solutions of the matrix models agree with results obtained by topological field theory methods.
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