Press Releases

Mubadala to Invest $350M into Princeton Digital Group, Asia’s leading Data Center Company, in a $505M Equity Round

Warburg Pincus and Ontario Teachers’, both existing shareholders in PDG, also investing in this round


Singapore-based Princeton Digital Group (PDG) has entered into an agreement with Mubadala Investment Company (Mubadala) for a $350M equity investment. Both existing shareholders in PDG, Warburg Pincus and Ontario Teachers’ Pension Plan Board (Ontario Teachers’), are also investing in this round, with the total exceeding half a billion dollars.

Established in 2017, PDG is a leading Pan-Asia data center operator with an unrivalled 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 world-class data center services to meet their increasing demand across Asia.

This fundraise will enable PDG to consolidate its position as the leading Pan-Asia data center operator with presence in China, India, Singapore, Japan and Indonesia, while accelerating expansion plans into other markets in Asia. 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, the growth of digitalization, high levels of data usage and an increasing tech-savvy young population.

Commenting on Mubadala’s investment in PDG, Khaled Abdulla Al Qubaisi, Chief Executive Officer, 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 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.”

“We are excited to have the world’s 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.

“Since making our initial investment we have been very impressed with the management team’s ability to successfully execute a highly differentiated strategy and focus on value creation. We are pleased to make a second investment in PDG to help accelerate their growth and look forward to partnering with Mubadala and Warburg Pincus on this journey,” said Ben Chan, Senior Managing Director for Asia-Pacific at Ontario Teachers’.

“Since backing the founders in PDG’s formative days, we have been impressed by their leadership and execution of a strong thesis. We are excited to continue to be part of PDG’s journey and believe that the company is best poised to take advantage of a truly transformative market opportunity.” said Ellen Ng, Managing Director, Warburg Pincus.