Mubadala Investment Company, an Abu Dhabi state-owned holding company, has led a funding round of over $500 million for Singapore-based data center operator Princeton Digital Group (PDG). The $350 million equity investment by Mubadala is its first in PDG.
This round included investments from both existing PDG shareholders, the US-based Warburg Pincus and Ontario Teachers’ Pension Plan Board (Ontario Teachers’), for a total of more than half a billion dollars.
The funds will enable PDG to consolidate its position as the leading Pan-Asia data center operator, by deepening its presence in Japan, India, Singapore, China, and Indonesia and accelerating its expansion plans into other markets.
Asia is one of the fastest-growing data center regions in the world, driven by strong market fundamentals such as a large base of internet users, the growth of digitalization, high levels of data usage and an increasing tech-savvy young population.
Khaled Abdulla Al Qubaisi CEO Real Estate, Infrastructure Investments Mubadala
“We are thrilled to be the lead investor in PDG’s fundraise and partner with the company on its growth journey. PDG is a leading data center 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’s management team to capitalize 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.”
Established in 2017, PDG has a portfolio of 20 data centers with over 600 MW of secured capacity and spanning five countries. The company serves hyperscalers, internet and cloud companies, and financial institutions with scalable and reliable internet infrastructure and world-class data center services to meet their increasing demand across Asia.
“We are excited to have a leading sovereign fund Mubadala as another blue-chip investor in PDG. 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 our business. We are also heartened by the continued trust and confidence placed by both Warburg Pincus and Ontario Teachers’ in PDG,” said Mr. Rangu Salgame, co-founder, Chairman and CEO of PDG.
