Private Equity

PE Fund Investments

Data centres operator Princeton Digital raises $500-M from Mubadala, Warburg, others

Press Release  

Singapore-based Princeton Digital Group (PDG) has raised USD 500 million led by Mubadala Investment Company (contributing USD 350 million), with participation from existing investors Warburg Pincus and Ontario Teachers' Pension Plan Board. Established in 2017, PDG is a pan-Asia data centre operator with a footprint across Asian digital economies. In India, it has operations in Mumbai. It has a portfolio of 20 data centres with over 600MW of secured capacity and spanning five countries. The funds will enable PDG to consolidate its position by deepening its presence in Japan, India, Singapore, China, and Indonesia and expand into other markets.

From the Venture Intelligence PE-VC Deal Database: In Jun-17, Warburg Pincus (led by its India focused team) had invested $300-M in PDG - then known as Princeton Growth Venture (PGV) - which intended to use the funds to create a global telecom, Media and Technology (TMT) infrastructure platform with special focus on data centres and digital media services. The company’s strategy was to acquire standalone as well as carve-out assets in India, China, Southeast Asia, the Middle East and Latin America.