Funding round
Princeton Digital Group Growth
Reported as "Growth Equity"
Princeton Digital Group, which works in hyperscale data center development in Singapore, raised $500M in a Growth round announced on 22 Feb 2022, led by Mubadala. 3 firms took part, 2 of them already investors.
$500M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Princeton Digital Group did not disclose a valuation in this round. It is Princeton Digital Group's first venture round on record, 5 years after it was founded in 2017. No later venture round is on record for Princeton Digital Group.
Princeton Digital Group's funding rounds
This is the only venture round on record for Princeton Digital Group.
- Growth this round 22 Feb 2022, led by Mubadala $500M
- Debt not a venture round 17 Jul 2025, led by Stonepeak $1.20B
Investors
Who put money in
Mubadala led the round with 2 other firms. Warburg Pincus and Ontario Teachers’ Pension Plan Board had backed Princeton Digital Group before.
Lead investor
- Mubadala backs 42 venture-backed companies new investor
Also in the round
- Warburg Pincus backs 76 venture-backed companies existing investor
- Ontario Teachers’ Pension Plan Board existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Hosting & Cloud Infrastructure Providers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| TierPoint Hosting & Cloud Infrastructure Providers | 28 Feb 2022 | $500M | not disclosed | not named |
| Hosting & Cloud Infrastructure Providers | 1 Jun 2022 | $66M | not disclosed | SoftBank Vision Fund and GGV Capital |
| Hosting & Cloud Infrastructure Providers | 20 Jul 2021 | undisclosed | not disclosed | Spotlight Equity Partners |
| Hosting & Cloud Infrastructure Providers | 8 Nov 2022 | $50M | not disclosed | Helios Investment Partners |
| Hosting & Cloud Infrastructure Providers | 26 Jan 2023 | $122M | $810M | IMM Investment |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Princeton Digital Group raise in its Growth round?
Princeton Digital Group raised $500M in its Growth round, announced in Feb 2022.
Who led Princeton Digital Group's Growth round?
Mubadala led it, with Warburg Pincus and Ontario Teachers’ Pension Plan Board.
What was Princeton Digital Group's valuation at the Growth round?
It was not disclosed.