Mubadala Investment led the funding round with an investment of $350m
Princeton Digital Group has a portfolio of 20 data centres across five countries. (Credit: Akela999 from Pixabay)
Princeton Digital Group (PDG), a Singapore-based data centre company, has secured more than $500m in a new funding round led by Abu Dhabi’s sovereign investor Mubadala Investment.
Warburg Pincus and Ontario Teachers’ Pension Plan Board (Ontario Teachers’), which are existing shareholders in Princeton Digital also took part in the funding round.
Mubadala Investment invested $350m in the pan-Asia data centre company.
Mubadala real estate and infrastructure investments CEO Khaled Abdulla Al Qubaisi 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’s management team to capitalise 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.”
Founded in 2017, Princeton Digital has a portfolio of 20 data centres across five countries with more than 600MW of secured capacity.
The data centre company caters to hyperscalers, internet and cloud firms, and financial institutions. It offers them with scalable internet infrastructure and data centre services to help them handle their rising demand across Asia.
Through the proceeds from the funding round, the company expects to strengthen its position as a major Pan-Asia data centre operator by extending its footprint in Japan, India, China, Singapore, and Indonesia.
Princeton Digital will also use the new capital to fast track its growth plans into other markets.
Princeton Digital co-founder, chairman, and CEO Rangu Salgame said: “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.”
In 2021, Princeton Digital announced plans to open a 97MW hyperscale facility in Saitama near Tokyo, Japan, with an investment of $1bn.