Mubadala Leads $500 Million Round for Asian Data-Center Firm
- Abu Dhabi sovereign fund anchors round with $350 million
- Singapore-based data center operator is backed by Warburg
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Data-center operator Princeton Digital Group Pte. has pulled in more than $500 million in a round led by Abu Dhabi sovereign fund Mubadala Investment Co., underscoring investor demand for the infrastructure that supports the internet.
Mubadala put in over $350 million while existing investors Warburg Pincus and Ontario Teachers’ Pension Plan Board also participated, the Singapore-based firm said in a statement Tuesday. The financing could boost Princeton Digital’s valuation to more than $2 billion and serve as a stepping stone to a potential initial public offering, Bloomberg News has reported.