Story image

The $300m investment: New data center venture gets a kickstart

07 Jun 2017

Princeton Growth Ventures (Princeton GV) recently announced it has received a US $300 million investment from an affiliate of Warburg Pincus.

Warburg Pincus is a global private equity firm focused on growth investing.

Princeton GV has a clear vision to create a new global telecommunications, media and technology  ("TMT") infrastructure platform of significant scale, with a particular focus on data centers and fast growing digital media services.

The Company's strategy is to acquire standalone as well as carve-out assets in geographies including India, China, Southeast Asia, the Middle East and Latin America.

Rangu Salgame founded Princeton GV in New York in 2017. Salgame’s past ventures include Tata Communications, Cisco Systems and Verizon Communications.

He was the CEO of the Growth Ventures Group at Tata Communications where he was worked on the company’s data center business. 

Salgame is joined by Varoon Raghavan, co-founder of Princeton GV, who brings experience in the data center, media services and enterprise services sectors.

Warburg Pincus has invested over US $16 billion in more than 300 TMT companies across company life-stages and geographies, in sectors including telecommunications, software, technology enabled-services, media, information and internet. 

Current and prior investments include BEA Systems, Bharti Televentures, Endurance International, FIS, Nuance Communications, Veritas Software, United Internet, 1&1 hosting and a wholesale data center JV with 21Vianet.

Viraj Sawhney, managing director, Warburg Pincus, comments, "there is a significant shortage of focused high quality co-location data center providers in Asia and Latin America, and demand is expected to grow rapidly due to cloud, mobile and video streaming.”

“We believe telecom companies will increasingly divest non-core assets, which should lead to a number of attractive investment opportunities in data centers and the broader TMT infrastructure sector.”

Sawhney continues, “Rangu has a long and successful track record in building and scaling profitable technology infrastructure businesses across Asia and global markets, and we are excited to partner with Rangu and Varoon in this space."

Chandler Reedy, managing director, Warburg Pincus, says, "we see a significant opportunity in the creation of a new platform to meet the growing needs for data centers and digital cloud services across emerging market regions, and we are excited to partner with Rangu and the Princeton GV team on this venture."

Inspur announces AI edge computing server with NVIDIA GPUs
“The dynamic nature and rapid expansion of AI workloads require an adaptive and optimised set of hardware, software and services for developers to utilise as they build their own solutions."
Cohesity and Softbank partner to offer data services in Japan
The joint venture asserts it will enable Japanese enterprises to back up, store, manage and derive insights from all of their secondary data and applications.
ADLINK and Charles announce multi-access pole-mounted edge AI solution
The new solution is a compact low profile pole or wall mountable unit based on an integration of ADLINK’s latest AI Edge Server MECS-7210 and Charles’ SC102 Micro Edge Enclosure. 
How Dell EMC and NVIDIA aim to simplify the AI data centre
Businesses are realising they need AI at scale, and so enterprise IT teams are increasingly inserting themselves into their company’s AI agenda. 
Huawei commits to Hong Kong with new cloud tech
Hosting its 2019 Cloud Summit in Hong Kong, Huawei announced it is throwing significant investment into region.
Time to build tech on the automobile, not the horse and cart
Nutanix’s Jeff Smith believes one of the core problems of businesses struggling to digitally ‘transform’ lies in the infrastructure they use, the data centre.
Cloud providers increasingly jumping into gaming market
Aa number of major cloud service providers are uniquely placed to capitalise on the lucrative cloud gaming market.
Intel building US’s first exascale supercomputer
Intel and the Department of Energy are building potentially the world’s first exascale supercomputer, capable of a quintillion calculations per second.