DTCP holds second close of Digital Infrastructure Vehicle II at about €1 billion
• Fund has raised capital from leading international investors including BlackRock and abrdn, in addition to existing investors
• Targeting investments in the areas of fiber networks, mobile towers, and data centers
• €730 million already committed, strong deal pipeline in place
Hamburg, London, Luxembourg, August 30th, 2022 – DTCP has successfully held the second closing of its Digital Infrastructure Vehicle II (“DIV II” or “the Fund”) at about €1 billion. The Fund was launched in June 2021 and has raised additional capital from new, leading international investors, including BlackRock and abrdn, as well as a sovereign wealth fund from the Middle East and various German insurance companies.
The Fund will continue to raise significant capital until its final closing in 2023. DIV II invests in digital infrastructure – fiber networks, mobile towers and data centers – to accelerate digital transformation and create value for its investors, its portfolio companies, and society. The Fund focuses on opportunities with defensible market positions and long-term value creation potential through either minority or majority European equity investments. The Fund is targeting eight to ten equity investments in the range of €150 to €250 million, offering significant co-investment opportunities to its investors.
Vicente Vento, Founder & CEO of DTCP and Managing Partner of DIV II, says: “We would like to thank our existing and new investors for their support and trust. 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.” The Fund has already committed €730 million in four transactions.
DIV II was a founding investor in the new Cellnex NL, the leading independent telecommunications tower company in the Netherlands formed through the combination of the Deutsche Telekom and Cellnex tower businesses. DIV II has invested alongside other leading investors in Open Dutch Fiber and E-Fiber, which jointly constitute the largest independent open access fiber-to-the-home network in the Netherlands. Finally, the Fund has recently signed its latest investment into a leading European data center business, which is expected to be completed shortly.
DIV II qualifies as an Article 8 fund under the EU Sustainable Finance Disclosure Regulation (SFDR), targeting to invest at least 20% of the capital in assets qualifying as sustainable investments. DIV II is committed to reducing its overall greenhouse gas emissions and becoming carbon net zero at the portfolio company level by 2040.
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About DTCP (Digital Transformation Capital Partners)
DTCP is an independent investment management firm focused on digital transformation. DTCP Infra invests in fiber networks, mobile towers and data centers. DTCP Growth invests in leading cloud-based enterprise application software companies. The driving force behind the firm’s strategies is the belief that the convergence of networks, devices and the internet is creating more wealth, disrupting more businesses, and unleashing more innovation than any force in the history of technology. DTCP and its affiliates have offices in Hamburg, London, Luxembourg, San Francisco, Seoul and Tel Aviv. To learn more about DTCP, please visit dtcp.capital.
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