DTCP, an investment management firm focused on digital transformation, has so far raised €1bn for its latest digital infrastructure fund.
The manager said the Digital Infrastructure Vehicle II (DIV II) fund received additional capital commitments from investors, including BlackRock and Abrdn, as well as an unnamed sovereign wealth fund from the Middle East and various German insurers.
DTCP said DIV II, which was launched in June last year, will continue to raise capital until its final closing in 2023.
The fund, which targets fibre networks, mobile towers and data centres, has already committed €730m of its capital, the manager said.
DIV II’s investments include Cellnex NL, a telecommunications tower company in the Netherlands; Open Dutch Fiber and E-Fiber, also in the Netherlands, The fund has recently signed its latest investment into a European data centre business, which is expected to be completed shortly.
DIV II targets eight to 10 equity investments in the range of €150m to €250m, offering significant co-investment opportunities to its investors, DTCP said.
Vicente Vento, founder and CEO of DTCP and managing partner of DIV II, said: “Our existing portfolio is performing strongly and our investment pipeline holds many exciting opportunities that offer attractive risk-adjusted returns.
“The second closing of DIV II is an important milestone in our journey to accelerate digital transformation and create a diverse, equal and carbon-neutral digital society.”
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