PointOne Data Centers has secured funding from an unnamed investment firm.
The company this week announced it has partnered with a global investment management firm “with approximately $37 billion in assets under management” to support the the development of PointOne’s hyperscale data center campuses across Virginia.
Terms were not shared.
PointOne offers turnkey, build-to-suit, and powered shell options designed for hyperscale and cloud providers. It claims to have acquired three sites across Northern and Central Virginia, with the potential to deploy close to 950MW across 500 acres. The company plans to construct 14 data centers totaling over 6.1 million square feet (567,000 sqm).
“This is an important milestone for PointOne Data Centers, and we are excited to partner with an established investor that allows us to scale our portfolio to offer flexible data center solutions that align our infrastructure solutions with our customers,” said Colin Clish, co-founder, and president of PointOne. “This partnership is a testament to the quality of our prepared sites and our strategic commitment to building a regional platform.”
PointOne launched back in 2018, with a reported $7.5 billion war chest and plans for a large campus in Remington in Virginia’s Fauquier County.
The company’s 26-acre Ashburn data center project will reportedly deliver up to 132MW across two buildings and 665,000 sq ft (61,780 sqm).
Its 2.5 million sq ft (232,000 sqm) planned Remington data center campus in Fauquier County will provide 400MW across five buildings on a 234-acre site, with 50MW of power said to be available in Q4 2026.
The Richmond data center campus in Charles City County will span up to seven buildings on 178 acres, offering a total of 400MW across 3.25 million sq ft (302,000 sqm).
The company is also developing a 10-acre, 30MW development in Virginia Beach.
PointOne said it plans to continue expanding and is “actively acquiring land in other prominent markets.”
Solomon Partners Securities, LLC served as the exclusive financial advisor, and Greenberg Traurig, LLP served as the legal advisor to PointOne on the transaction.
