Data centre specialist Princeton Digital raises $500 mln, led by Mubadala

The funding will enable the Princeton Digital to deepen its presence in Japan, India, Singapore.

Asian data centre operator Princeton Digital Group (PDG), which is backed by Warburg Pincus, has raised more than $500 million in an equity investment round led by Abu Dhabi state fund Mubadala.

While Mubadala led the round with a $350 million cheque, existing shareholders Warburg Pincus and Ontario Teachers’ Pension Plan Board (Ontario Teachers’) accounted for the rest.

Established in 2017, PDG is a leading pan-Asia data center operator with a footprint across key Asian digital economies. It has a portfolio of 20 data centres and serves internet, cloud companies, and financial institutions with scalable and reliable infrastructure.

The funds will enable PDG to consolidate its position as the leading Asia data center operator, by deepening its presence in Japan, India, Singapore, China, and Indonesia.

Khaled Abdulla Al Qubaisi, Chief Executive Officer of real estate and infrastructure Investments at Mubadala, said: “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.

“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 Rangu Salgame, co-founder, chairman and CEO of PDG.