Transaction results from oversubscribed $2B equity round announced in October 2024, and proceeds will be used to finance development of new data center campuses and purchase of equity from existing investors
DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed services, today announced a $250M equity investment from TJC LP (“TJC”, formerly “The Jordan Company”) and a $600M secondary share offering. The new funding resulted from excess investor interest in the $2B primary equity round announced in October 2024, and brings the total debt and equity raised in the past year and a half to nearly $5B.
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Participants in the secondary share purchase acquired shares from existing investors and reflect the ongoing demand for, and interest in, high-quality investments in the data center sector being driven by artificial intelligence.
“We are delighted to have TJC join our investor group,” said Raul K. Martynek, DataBank’s CEO. “Their investment and the secondary offering signal both confidence in our strategy and our proven ability to execute and scale the DataBank platform.”
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“We could not be more excited to partner with Raul, DataBank, and the other world-class digital infrastructure investors supporting DataBank’s robust growth plans,” said Eion Hu, Partner at TJC. “Data centers are the cornerstone of the digital transformation and artificial intelligence, and we believe DataBank is uniquely positioned to capitalize on the sustained demand for reliable, scalable, and energy-efficient infrastructure in an increasingly data-driven world.”
BofA Securities and Citizens Capital Markets Inc. acted as financial advisors for DataBank. Proskauer Rose LLP acted as legal counsel to DataBank and Kirkland & Ellis LLP acted as legal counsel to TJC.
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