Singapore-headquartered data center operator Princeton Digital Group (PDG), has just closed an equity investment round, raising a total of over $500 million to fund its data center expansion across Asian markets.

For this investment round, Mubadala Investment Company came in as a lead investor for $350 million. However, the round also got investments from existing shareholders in PDG, Warburg Pincus and Ontario Teachers’ Pension Plan Board (Ontario Teachers’), bringing the round’s total investment to over half a billion dollars.

According to PDG, the funds raised in this investment round will enable the company to consolidate its position as a Pan-Asia data center operator, by strengthening and expanding its presence in Japan, India, Singapore, China, and Indonesia as well as accelerating its expansion plans into other markets.

“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,” said Rangu Salgame, co-founder, Chairman and CEO of PDG.

Currently, PDG boasts of a portfolio of 20 data centers with over 600MW of power capacity spread across five countries in Asia. The company promises scalable infrastructure services to hyperscalers, internet and cloud companies, as well as financial institutions across the continent.

“We are thrilled to be the lead investor in PDG’s fundraise and partner with the company on its growth journey. PDG is a leading data center 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,” said Khaled Abdulla Al Qubaisi, CEO, Real Estate and Infrastructure Investments at Mubadala.

“We look forward to working with PDG’s management team to capitalize 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.”

In April last year, PDG secured a 230 million USD fund from China Merchants Bank to bolster its effort in achieving its 1 billion USD expansion plan in China. At that time, PDG had completed its 42MW Shanghai data center campus and also commenced the construction of its 43MW campus in Nanjing. Also, the design work for its 60MW campus in Nantong was underway at the time of that announcement.

In 2019, US-based data center provider Cologix, also secured a $500 million investment from Mubadala Investment Company which was set to provide primary capital investment for Cologix to meet its expansion demands for hyperscale edge data centers throughout the U.S. and Canada.