Vantage Data Centers has closed its latest equity raise.
The company this week said it had completed a $9.2 billion equity investment led by investment vehicles managed by DigitalBridge and Silver Lake.
The capital raise was “significantly” oversubscribed and upsized by $2.8 billion with participation from multiple global investors, bringing the completed investment to $9.2 billion.
Together with the €1.5 billion investment by Australian Super announced in September 2023, aggregate new investment in Vantage over the past nine months totals approximately $11 billion, of which more than $7 billion is primary equity.
The company said the proceeds will be used to fund Vantage’s growth across North America and EMEA.
Vantage currently has 25 sites across North America and EMEA totaling more than 3GW of capacity in operation of development. The company said the new investment will drive more than $30 billion in data center development.
“It’s exciting to experience such strong investor demand to fuel our unprecedented growth across North America and EMEA,” said Sureel Choksi, president and CEO of Vantage. “The confidence that DigitalBridge, Silver Lake, and other investors have in Vantage and our ability to execute, as evidenced by an investment round that was significantly oversubscribed, is a testament to our team’s track record of delivering for our customers. This new funding from the world’s leading digital infrastructure and technology investors, along with numerous co-investors, is a game changer that uniquely positions Vantage to capitalize on the incredible AI and cloud opportunity in front of us.”
DigitalBridge first announced it intended to sell a minority stake in Vantage in March 2023, and in April 2023 formed an investment consortium for Vantage EMEA operations featuring MEAG and Infranity. Late last year, AustralianSuper invested €1.5 billion ($1.6bn) in Vantage EMEA. January 2024 saw Silver Lake and DigitalBridge invest $6.4 billion into Vantage Data Centers.
“DigitalBridge is excited to continue its support of Vantage, a proven infrastructure partner for the world’s top cloud and technology platforms,” added Jon Mauck, senior managing director at DigitalBridge, who leads the company’s data center investment strategy. “This investment allows Vantage to further accelerate the development of next-generation infrastructure to support the continued adoption of cloud and AI technologies.”
Silver Lake launched Vantage in 2010 as a single data center campus on a former Intel site in Santa Clara, California. Digital Bridge acquired Vantage in 2017. Colony Capital acquired Digital Bridge in 2019 and rebranded the whole company to DigitalBridge in 2021. Vantage expanded into Europe in 2020 with the acquisitions of Etix Everywhere and NGD.
“Our conviction in Vantage’s leadership in developing and delivering next-generation capacity for the world’s most significant hyperscalers has never been greater, and we are thrilled to be joined by an elite group of investors in this important partnership,” said Greg Mondre, co-CEO and managing partner, and Lee Wittlinger, managing director, of Silver Lake.
Update: Equity investment firm GiantLeap Capital said it was part of the capital raise.
