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Singapore-based Princeton Digital Group (PDG) has closed an over US$500 million equity investment, with Abu Dhabi-based Mubadala Investment Company leading the round with a US$350 million injection.
Its existing shareholders, Warburg Pincus and Ontario Teachers’ Pension Plan Board.
The funds will enable Princeton Digital Group to deepen its presence in Japan, India, Singapore, China, and Indonesia and accelerate its expansion plans into other markets.
Established in 2017, Princeton Digital Group invests, develops and operates internet infrastructure. It serves internet and cloud companies and financial institutions with scalable internet infrastructure and data centre services.
Headquartered in Singapore with a presence and operations in China, India, Indonesia, and Japan, Princeton Digital Group operates a portfolio of 20 data centres with over 600MW of secured capacity and spanning five countries.
Khaled Abdulla Al Qubaisi, CEO (Real Estate and Infrastructure Investments) at Mubadala, said: “PDG is a leading data centre infrastructure platform operating in an attractive market with strong tailwinds and catering to rising demand from the hyperscale segment and more broadly Asia’s digital economies. We look forward to working with PDG to capitalise on the growth opportunities and create a sustainable, long-term value creation.”
In 2020-21, PDG had raised nearly US$600 million. This included a US$230 million from China Merchants Bank in April 2021 and a US$360 million round led by Ontario Teachers in October 2020.
Asia is one of the fastest-growing data centre regions globally, driven by solid market fundamentals such as a large base of internet users, the growth of digitalisation, high levels of data usage and an increasing tech-savvy young population.
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