Princeton Digital Group raises $500 million in funding


Singapore-based company Princeton Digital Group (PDG) has closed a $350 million equity fund led by Mubadala Investment Company (Mubadala).

Two of PDG's shareholders, Warburg Pincus and the Ontario Teachers' Pension Plan Board (Ontario Teachers'), also invested in the round, with a total investment of more than half a billion dollars.

The funding strengthens PDG's position as a leading pan-Asian data center operator by strengthening its presence in Japan, India, Singapore, China and Indonesia and accelerating its expansion plans into other markets.

Quoted from a press statement, Thursday, Asia is one of the regions with the fastest growing data centers in the world.

supported by the basic things needed by a strong market such as the large number of internet users, the growth of digitization, high data usage, and an increasing technology-literate population.

"We look forward to working with the PDG management team to take advantage of growth opportunities and create sustainable creations.

but also has long-term value, but also supports the development of Asia's digital infrastructure as an important driver for economic progress," said CEO of Real Estate and Infrastructure Investments at Mubadala, Khaled Abdulla Al Qubaisi.

"Mubadala's track record in long-term investment and extensive knowledge in the digital infrastructure sector.

positioned Mubadala as an outstanding partner for us in growing the business.

We are also heartened by the trust and confidence that Warburg Pincus and Ontario Teachers' continue to place in PDG," said PDG Co-founder, Chairman and CEO, Rangu Salgame.

Senior Managing Director Asia Pacific Ontario Teachers Ben Chan and Managing Director Warburg Pincus Ellen Ng added, both wanted to help accelerate their growth, and believed that PDG was well-prepared to capitalize on this transformative market opportunity.

Founded in 2017, PDG is a leading pan-Asian data center operator with an unrivaled track record across Asia's key digital economies.

The PDG portfolio consists of 20 data centers with a capacity of more than 600MW in five countries.

PDG serves hyperscalers, internet and cloud companies, and financial institutions, providing world-class internet and data center infrastructure that has the capacity to accommodate growth and can reliably meet their growing demand across the Asian region.

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