Story image

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

07 Jun 17

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."

Is Supermicro innocent? 3rd party test finds no malicious hardware
One of the larger scandals within IT circles took place this year with Bloomberg firing shots at Supermicro - now Supermicro is firing back.
Record revenues from servers selling like hot cakes
The relentless demand for data has resulted in another robust quarter for the global server market with impressive growth.
Opinion: Critical data centre operations is just like F1
Schneider's David Gentry believes critical data centre operations share many parallels to a formula 1 race car team.
MulteFire announces industrial IoT network specification
The specification aims to deliver robust wireless network capabilities for Industrial IoT and enterprises.
Google Cloud, Palo Alto Networks extend partnership
Google Cloud and Palo Alto Networks have extended their partnership to include more security features and customer support for all major public clouds.
DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Schneider Electric's bets for the 2019 data centre industry
From IT and telco merging to the renaissance of liquid cooling, here are the company's top predictions for the year ahead.
China to usurp Europe in becoming AI research world leader
A new study has found China is outpacing Europe and the US in terms of AI research output and growth.