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Tuesday, February 7, 2023

Data centre firm Princeton Digital Group raises over $500 million

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Chennai: Data centre company Princeton Digital Group (PDG) on Tuesday said it has closed an equity investment of more than $500 million led by Mubadala Investment Company, which put in $350 million. Both existing shareholders in PDGWarburg Pincus and Ontario Teachers’ Pension Plan Board – also invested in this round, the company said in a statement.

PDG has a portfolio of 20 data centres with over 600MW of secured capacity, spanning five countries. The company serves hyperscalers, internet and cloud companies and financial institutions with scalable internet infrastructure and data centre services to meet the increasing demand across Asia.

The funds will help PDG consolidate its position as a pan-Asia data centre operator by deepening its presence in Japan, India, Singapore, China, and Indonesia and accelerating its expansion plans into other markets, the statement added.

“We look forward to working with PDG’s management team to capitalise on the growth opportunities and create not only sustainable, long-term value creation, but also support Asia’s digital infrastructure development as a vital enabler to economic progress,” Khaled Abdulla Al Qubaisi, CEO, real estate and infrastructure investments at Mubadala said.

“Mubadala’s track record of long-term investments combined with extensive know-how in the digital infrastructure space makes it a great partner as we continue to scale up our business,” said Rangu Salgame, cofounder, chairman and CEO of PDG.

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