Indian investment banking firm Aurum Equity Partners has announced an investment of $400 million to build a data center in Hyderabad, India.

The firm will invest the money in phases to build a 100MW data center for both hyperscalers and enterprises in the state of Telangana.

The plans were shared in a meeting with Chief Minister Anumula Revanth Reddy, who said: “We are happy that Aurum has decided to build an AI-powered, green data center, which will create many new jobs in Hyderabad.”

Other specifications of the data center have not been shared.

Venkat Bussa, CEO and chairman of Aurum Equity Partners, stated: “Our next-generation data center framework is designed to bridge the digital divide between rural and urban India. This initiative will make government services such as e-Seva, e-Payment, and e-Education accessible to all, supporting our mission to connect every corner of the nation.”

Founded in 2022, Aurum’s Bussa was previously a partner at VU Venture Partners and VU Capital Partners.

In May last year, the firm launched its $250 million global private equity fund plan, closing Q1 2024. At the time, the company said it planned on investing $50 million for a data center build in Hyderabad.

The company’s sister firm, Aurum Venture Partners has committed $5 million to support tech startups in Telangana. Aurum Venture Partners closed a $50 million fund in Q1 2023.

Earlier this month, AWS announced plans to expand its data center presence in Hyderabad.

CtrlS, Tata Communications, and Iron Mountain also all have facilities in the region.