Princeton Digital Group Valuation, Funding & Investors

Princeton Digital Group is valued at $2B as of February 2022.

Last Princeton Digital Group valuation

$2B

Undisclosed stage · Feb 2022

Last Princeton Digital Group funding round

$1.3B

Undisclosed stage · Jul 2025

Cumulative funding Princeton Digital Group raised

$2.2B

across 3 funding rounds

Key investors in Princeton Digital Group

  • Warburg Pincus
  • Ontario Teachers' Pension Plan
  • Mubadala
  • Stonepeak

Princeton Digital Group Overview

About Princeton Digital Group

Princeton Digital Group is a Singapore-headquartered data center operator serving hyperscalers and enterprises across Asia. Backed by Warburg Pincus, the company develops and manages carrier-neutral facilities in Singapore, China, India, and Indonesia. Princeton Digital Group operates over 500MW of capacity with campuses like the 110MW site in Jakarta and expansions in Mumbai. The firm provides colocation, cloud connectivity, and sustainability-focused infrastructure adhering to Tier III standards. Founded in 2017, Princeton Digital Group supports digital transformation for clients including Alibaba Cloud and Tencent.


Founded

2018

HQ

SingaporeSingapore

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based

Valuation

$2B (Feb 2022)

Princeton Digital Group Valuation

Princeton Digital Group is currently valued at $2B, based on its undisclosed-stage round in February 2022.

The $500M round was led by Mubadala, with participation from Ontario Teachers' Pension Plan and Warburg Pincus.

Princeton Digital Group valuation by funding round

Princeton Digital Group valuation by funding round
DateStageValuation
Feb 2022Undisclosed stage$2B

Princeton Digital Group Funding History

Princeton Digital Group has raised a total of $2.2B across 3 funding rounds.

Princeton Digital Group's first fundraising round was a $360M undisclosed-stage round in October 2020. The most recent completed round was a $1.3B undisclosed-stage round in July 2025.

Princeton Digital Group funding rounds

Princeton Digital Group funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2025Undisclosed stageStonepeak (lead)$1.3B-Princeton Digital Group (PDG), Asia Pacific’s leading data center operator, signed a definitive agreement on July 18, 2025, for a USD 1.3 billion preferred equity investment from Stonepeak to support expansion across the region. This follows a USD 1.2 billion debt financing, bringing total 2025 capital raised to USD 2.5 billion across equity and debt. The deal closed on August 8, 2025. PDG operates over 1.1 gigawatts of capacity across six countries including Singapore, Japan, India, Indonesia, China, and Malaysia. Major shareholders include Warburg Pincus (remaining largest), Ontario Teachers’ Pension Plan, and Mubadala. Stonepeak's investment supports greenfield development and M&A in established and emerging APAC markets amid demand from hyperscalers and AI platforms. Stonepeak, with approximately USD 73-76 billion in assets under management, focuses on infrastructure including digital infrastructure. The investment marks Stonepeak’s third data center deal in APAC and ninth globally.
Feb 2022Undisclosed stageMubadala (lead); Ontario Teachers' Pension Plan; Warburg Pincus$500M$2BPrinceton Digital Group (PDG) is a Singapore-based Pan-Asia data center operator founded in 2017, serving hyperscalers, internet and cloud companies, and financial institutions with scalable infrastructure. At the time of the February 2022 funding, PDG operated a portfolio of 20 data centers with over 600MW of secured capacity across five countries: Japan, India, Singapore, China, and Indonesia. In February 2022, Mubadala Investment Company led an equity funding round exceeding $500 million, contributing $350 million as its first investment in PDG. Existing shareholders Warburg Pincus and Ontario Teachers’ Pension Plan Board also participated. Mubadala took a significant minority stake, driven by PDG's management quality, co-investors, and the strong growth in Asia's data center market fueled by digitalization and hyperscale demand. The funds were allocated to deepen PDG's presence in its core markets and accelerate expansion into additional regions, consolidating its leadership in Pan-Asia digital infrastructure. Subsequent developments included a $1.3 billion preferred equity investment from Stonepeak in 2025 and plans for up to $5 billion in debt to fund contracted capacity.
Oct 2020Undisclosed stageOntario Teachers' Pension Plan (lead); Warburg Pincus$360M-Princeton Digital Group (PDG), a Singapore-based data center operator, secured a US$360 million equity investment on October 20, 2020, led by Ontario Teachers’ Pension Plan with participation from existing investor Warburg Pincus, PDG's largest institutional backer since 2017. The funding supports PDG's expansion across Asia amid rapid digitalization and data growth. PDG, founded three years prior, operated or developed 18 data centers serving internet and cloud companies in key markets including China, Singapore, Indonesia, and India, with a strategy encompassing greenfield/brownfield developments, acquisitions of smaller rivals, and carve-outs from telecom operators. Ontario Teachers', managing C$204.7 billion in net assets as of June 30, 2020, highlighted data centers' essential role in Asia's digital transformation and praised PDG’s high-quality management, unique strategy, and track record. Ben Chan, Regional Managing Director for Asia-Pacific, emphasized leveraging their data center experience to scale PDG. Warburg Pincus continued its support in this round following its initial 2017 investment. PDG's Chairman & CEO Rangu Salgame expressed delight at partnering with Ontario Teachers' due to their long-term investment approach and deep sector expertise. The investment followed recent sector activity like Chindata's $540 million NASDAQ IPO. Ontario Teachers' has prior data center investments, including past stakes in Compass Datacenters and Metronode.

Who has invested in Princeton Digital Group?

4 investors have backed Princeton Digital Group across its funding rounds, including Warburg Pincus, Ontario Teachers' Pension Plan, Mubadala and Stonepeak.

Lead investors include Stonepeak, Mubadala and Ontario Teachers' Pension Plan.


Princeton Digital Group Investors

Investors in Princeton Digital Group by funding rounds participated
InvestorHQRoundsRoleFirst check
Ontario Teachers' Pension PlanCanadaToronto2LeadOct 2020
Warburg PincusUnited StatesNew York City, NY2ParticipantOct 2020

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Princeton Digital Group Competitors

Princeton Digital Group competitors include listed companies like SharonAI, Quantum Computing Inc., Keel Infrastructure and VNET Group, and private ones like d-Matrix and Starcloud.

Public and private companies comparable to Princeton Digital Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
d-MatrixUnited StatesSan Jose, CAPrivate--$2B-
SharonAIUnited StatesUnited StatesPublicly listed$2M($36M)$2B13.7x
Quantum Computing Inc.United StatesUnited StatesPublicly listed$682K($34M)$1.9B48.0x
Keel InfrastructureCanadaCanadaPublicly listed$229M($80M)$2.2B18.2x
StarcloudUnited StatesSeattle, WAPrivate--$2.3B-
VNET GroupChinaChinaPublicly listed$1.5B$463M$1.7B3.7x

Princeton Digital Group Public Comps

Princeton Digital Group is still privately-owned, but its public comps include SharonAI, Quantum Computing Inc., Keel Infrastructure, VNET Group, SUNeVision, Time Dotcom, POET Technologies, Cordiant Digital Infrastructure, Beijing Topnew Info and Pakistan Telecom.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
SharonAI$2M($36M)752.3x13.7x(32.7x)46.2x
Quantum Computing Inc.$682K($34M)1433.0x48.0x(28.4x)(15.8x)
Keel Infrastructure$229M($80M)11.2x18.2x(31.9x)(50.6x)
VNET Group$1.5B$463M4.1x3.7x13.2x11.8x
SUNeVision$374M$266M9.8x8.9x13.7x12.1x
Time Dotcom$438M$183M6.1x5.8x14.6x13.3x
POET Technologies$1M($60M)475.5x106.5x(8.6x)-
Cordiant Digital Infrastructure$221M-6.9x6.5x--

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Common questions about Princeton Digital Group

When was Princeton Digital Group founded?Princeton Digital Group was founded in 2018.
Where is Princeton Digital Group headquartered?Princeton Digital Group is headquartered in Singapore, Singapore.
Is Princeton Digital Group publicly listed?No, Princeton Digital Group is a private, VC-backed company.
What is Princeton Digital Group's valuation?Princeton Digital Group was last valued at $2B in its undisclosed-stage round in February 2022.
How much funding has Princeton Digital Group raised?Princeton Digital Group has raised $2.2B across 3 funding rounds.
What was Princeton Digital Group's last funding round?Princeton Digital Group's last funding round was a $1.3B undisclosed-stage round in July 2025, led by Stonepeak.
Who are Princeton Digital Group's investors?Princeton Digital Group's investors include Ontario Teachers' Pension Plan, Warburg Pincus, Mubadala and Stonepeak.
Which companies are comparable to Princeton Digital Group?Companies comparable to Princeton Digital Group include d-Matrix, SharonAI, Quantum Computing Inc., Keel Infrastructure, Starcloud and VNET Group.

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