Princeton Digital Group (PDG), a Singapore-based pan-Asia data center company, has announced raising more than $500 million in its latest funding round led by Abu Dhabi sovereign investor Mubadala Investment Company.
Mubadala injected $350 million in the funding round, which was also participated by existing shareholders PDG, Warburg Pincus, and Ontario Teachers’ Pension Plan, per the announcement.
PDG, established in 2017, PDG is a leading Pan-Asia data center operator with footprints across key Asian digital economies. The company has a portfolio of 20 data centers with over 600MW of secured capacity and spanning five countries.
The company serves hyperscalers, internet and cloud companies, and financial institutions to meet their increasing demand across Asia.
The $500+ million funding will enable Princeton Digital 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, according to the announcement.
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.
“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,” said Rangu Salgame, co-founder, Chairman and CEO of Princeton Digital.
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.