Abu Dhabi's Mubadala invests Dh1.3b in Singapore-based Princeton Digital
This comes days after the firm raised $500m in a funding round lead by Mubadala
Dubai: Data-center operator Princeton Digital Group has pulled in over Dh1.3 billion investment from Abu Dhabi sovereign fund Mubadala.
The fresh capital will help its Asian digital infrastructure development and its growing economies. The investment will further accelerate the UAE’s presence into key international markets.
This comes just weeks after Mubadala led $500 million funding round with an investment of $350 million.
Princeton Digital invests in, develops and operates data-center infrastructure in countries including China, Singapore, Japan, India and Indonesia, according to its website. It runs 20 data centers across 14 cities. Founded in 2017, the company was set up by Warburg Pincus along with Princeton Digital Chief Executive Officer Rangu Salgame and Chief Operating Officer Varoon Raghavan.
Data centers have become sought-after assets amid the rise of the digital economy, supporting everything from video streaming to online gaming.