APAC data center firm Digital Edge has raised more than $1.6 billion in new capital to fund its ongoing expansion plans.

Announced this week, the money was raised through a combination of equity and debt financing; this included approximately $640 million of equity investment from both existing and new investors, as well as $1 billion of total debt financing across multiple campus expansions.

The Stonepeak-owned company said the equity raise was “significantly oversubscribed” and included large institutional investors and sovereign wealth funds as new co-investors, though none were named.

Samuel Lee, Digital Edge CEO, said: “This is a major milestone for Digital Edge and an affirmation of the quality of this platform and our team. We are very proud of what we have achieved and are excited to deliver on the next phase of AI-ready data center developments.”

Digital Edge was established in early 2020; it owns and operates 21 data centers with more than 500MW of capacity either in service or in development, with another 300MW held for future development, across strategic locations in Japan, Korea, India, Malaysia, Indonesia, and the Philippines. The company said the new funds will be used to accelerate its expansion plans across the region.

“The level of interest received from existing and new investors is testament to Digital Edge’s proven track record, expansion capacity, and relentless focus on delivering for our customers across the Asia Pacific region,” added Andrew Thomas, chairman of Digital Edge and a senior managing director at Stonepeak. “Since making the founding investment in Digital Edge in 2020, Stonepeak has been proud to support the platform’s expansion into six countries and a truly pan-APAC footprint.”