Warburg Pincus to invest $300 mn in Rangu Salgame’s Princeton Growth Venture

Princeton Growth Ventures (PGV) founded by Rangu Salgame has obtained backing of up to $300 million from an affiliate of Warburg Pincus, a leading global private equity firm focused on growth.

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.

Viraj Sawhney, Managing Director, Warburg Pincus said, “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.”

Range Salgame, Chairman and CEO, PGV said, “We are excited to partner with Warburg Pincus given their successful track record of backing management teams in building and growing great businesses, their global network in TMT and their strong presence across the major emerging markets. PGV is seeking to build a multi-billion dollar internet infrastructure platform of global scale by acquiring assets from or partnering with telecom and media companies and independent players, and further investing in these assets for growth and value creation.”

Chandler Reedy, Managing Director, Warburg Pincus said, “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.”