Investment firm DTCP has raised €1.6bn for its latest digital infrastructure fund, attracting capital from a global investor base with existing investors increasing their initial commitments.
DTCP said the amount raised for its Digital Infrastructure Vehicle II (DIV II) and its associated vehicles was in line with its fundraising target and almost eight times larger than is predecessor.
DIV II, which attracted capital from global investors predominantly from Europe, US, Middle East and South Korea, targets equity investments in the range of €150m to €250m, “along with significant on-top co-investment opportunities for its investors”, the manager said.
“Early deployment momentum has been strong, and about two-thirds of the fund are already invested, all of which have hit significant growth milestones under DTCP ownership.”
DIV II’s investments include Cellnex NL, a telecommunications tower company in the Netherlands, and Open Dutch Fiber and E-Fiber, also in the Netherlands. In September last year, DTCP also became a majority shareholder in Maincubes by acquiring an additional stake in the German data-centre operator.
DTCP said the current focus is on managing DIV II’s portfolio and expanding the fund’s holdings, adding that “plans are underway for the next fund generation in the digital infrastructure sector, with a potential launch in 2025”.
Vicente Vento, founder and CEO of DTCP, and a managing partner of DIV II, said: “We are very pleased with this result and thankful to our partners for their continued support.
“The calibre of investors validates our specialist investment strategy and attests to the quality of the team, the DTCP brand, and the investments made so far. Our focus for 2024 will be on investing the remaining capital and generating further value in the existing portfolio.”
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