Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for $350 million.
Both existing shareholders in PDG, Warburg Pincus and Ontario Teachers’ Pension Plan Board (Ontario Teachers’), also invested in this round, with the total exceeding half a billion dollars.
Established in 2017, PDG is a leading Pan-Asia data center operator with a footprint across key Asian digital economies.
PDG has a portfolio of 20 data centers with over 600MW of secured capacity and spanning five countries.
The company serves hyperscalers, internet and cloud companies, and financial institutions with scalable and reliable internet infrastructure and data center services to meet their increasing demand across Asia.
The funds will enable PDG to consolidate its position as the leading Pan-Asia data center operator.
Reportedly, the company will do this by deepening its presence in Japan, India, Singapore, China, and Indonesia and accelerating its expansion plans into other markets.
Asia is one of the fastest-growing data center regions in the world, driven by strong market fundamentals such as a large base of internet users.
This also covers the growth of digitalization, high levels of data usage and an increasing tech-savvy young population.