DTCP completes second close of Digital Infrastructure Vehicle II for €1bn
Digital Transformation Capital Partners (DTCP) confirms the second closing of its Digital Infrastructure Vehicle II (DIV II) at approximately €1 billion.
The Fund, which was launched in June 2021, has now raised additional capital from new international investors, including BlackRock and abrdn, as well as a sovereign wealth fund from the Middle East and a number of German insurance companies. Its final closing will take place in 2023.
The DIV II invests in digital infrastructure, primarily fibre networks, mobile towers and data centres, focusing specifically on opportunities with defensible market positions and long-term value creation potential through either minority or majority European equity investments.
At present, the Fund is targeting eight to ten equity investments of between €150 to €250 million.
“We would like to thank our existing and new investors for their support and trust," said Vicente Vento, founder & CEO of DTCP and managing partner of DIV II.
"Our existing portfolio is performing strongly and our investment pipeline holds many exciting opportunities that offer attractive risk adjusted returns. The second closing of DIV II is an important milestone in our journey to accelerate digital transformation and create a diverse, equal and carbon-neutral digital society.”
To date, the Fund has already committed €730 million in four transactions comprised of Cellnex Netherlands, Open Dutch Fiber, EFiber as well as investment into a European data centre business, which is due to be completed shortly.
DIV II has pledged to reduce its overall greenhouse gas emissions with the aim of becoming carbon net zero by 2040.