UAE’s Mubadala leads $500m equity round into Singapore’s Princeton Digital Group

Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala as the lead investor for $350m. Existing shareholders in PDG, Warburg Pincus and Ontario Teachers’ Pension Plan Board, 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 massive footprint across key Asian digital economies. PDG has a portfolio of 20 data centers with over 600MW of secured capacity, spanning five countries. The company serves hyperscalers, internet and cloud companies, and financial institutions with scalable and reliable internet infrastructure and world-class data center services.

Commenting on Mubadala’s investment in PDG, Khaled Abdulla Al Qubaisi, CEO, Real Estate and Infrastructure Investments at Mubadala, said: “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. 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.”

The funds will enable PDG to strengthen its presence in Japan, India, Singapore, China, and Indonesia, and also accelerate its expansion plans into other markets.

Rangu Salgame, co-founder, chairman and CEO of PDG, said: “We are excited to have 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.”