DataBank Rakes in $850M in Equity Financing
DataBank has secured an additional $850 million in funding, comprising a $250 million equity investment from TJC (formerly The Jordan Company) and a $600 million secondary share offering. This follows its $2 billion equity round in October 2024, bringing DataBank’s total capital raised in the past 18 months to nearly $5 billion.
The secondary share offering allowed existing investors to sell portions of their stakes, including DigitalBridge Group, which will receive $59 million in gross proceeds while retaining a 7.8% ownership stake valued at $486 million. The transaction reflects a 24% increase from the previous recapitalization and represents a 2.2x multiple on DigitalBridge’s initial investment from December 2019.
“Data centers are the cornerstone of the digital transformation and artificial intelligence,” said Eion Hu, Partner at TJC. “We believe DataBank is uniquely positioned to capitalize on the sustained demand for reliable, scalable, and energy-efficient infrastructure in an increasingly data-driven world.”
Dallas-based DataBank’s nationwide infrastructure platform includes more than 65 data centers and 20 interconnection hubs across over 27 markets.
The transaction was facilitated by BofA Securities and Citizens Capital Markets as financial advisors, with Proskauer Rose acting as legal counsel to DataBank and Kirkland & Ellis serving as legal counsel to TJC.