Saturday, November 25, 2017

APAC data centre startup raises $400m led by Goldman Sachs and TPG Capital

First facilities in Sydney and Melbourne expected to be opened before the end of September could be some of the largest in the region.

Singapore-based data centre developer AirTrunk has raised A$400m ($307m as of February 13) in a funding round led by Goldman Sachs and TPG Capital.

The cash injection will be used to fund the construction of flagship data centre projects in Sydney and Melbourne, Australia, the company said in a statement.

The company was launched in 2014 by current CEO Robin Khuda who confirmed to Data Economy the company’s latest funding round.

Plans for the Melbourne facility were put forward in May 2016. Source

Through the new investment, Goldman Sachs and TSSP are set to join Khuda as major shareholders in AirTrunk.

A senior debt facility has been committed by co-debt advisors ING Bank and Natixis. J.P. Morgan and Norton Rose Fulbright advised AirTrunk on the capital raising.

AirTrunk said it expects the facilities in Sydney and Melbourne to be operational in the third quarter of 2017 and will initially support more than 20 MW of IT load.

The company has designed the facilities to be scalable as demand increases with a maximum IT load of 130MW of power (Sydney 70MW; Melbourne 50MW.

The startup said it has secured its dedicated electricity infrastructure (132KV dual feed power supply in Sydney and 66KV dual feed in Melbourne).

Khuda said “I am delighted to have completed this capital raising that will lay a solid platform in fulfilling our ambition in becoming the Asia-Pacific region’s leading data centre platform supporting large-scale enterprise and technology companies.

“We had a strong level of interest in our fundraising process globally, but Goldman Sachs and TSSP stood out for their level of support, industry knowledge and commitment to the AirTrunk business over the long-term.

“I am confident that the combination of the management team at AirTrunk and the investment and support of Goldman Sachs and TSSP, will enable AirTrunk to execute its vision that will support cloud, content and large enterprise customers across the Asia-Pacific region.”