Vantage Data Centers' Growth Continued in 2024 Driven by AI and Cloud Adoption; Secured a Record $13 Billion in Incremental Funding
Company expanded global footprint, entering two new markets, breaking ground on six campuses and opening 11 facilities
Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced a continued run of significant growth in 2024 driven by the surging demand for cloud computing and artificial intelligence (AI). The company secured more than $13 billion in debt and equity investments across new and existing investors, supporting the addition of multiple new markets and expansions in key existing markets.
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Vantage Data Centers' 192MW campus being developed in New Albany, Ohio, a new market the company entered in 2024. (Photo: Business Wire)
"In 2024, we built upon the previous year's momentum to meet the demand for hyperscale capacity driven by the rapid adoption of AI and cloud technologies," said Sureel Choksi, president and CEO of Vantage Data Centers. "Through strategic partnerships with investors and our commitment to sustainable innovation and operational excellence, we continue to expand our reach globally to enable our customers to grow their businesses at unprecedented scale."
Strategic Capital Investments
The company kicked off 2024 by announcing a $6.4 billion equity investment led by investment vehicles managed by DigitalBridge Group, Inc. (NYSE:DBRG) ("DigitalBridge") and Silver Lake that increased to $9.2 billion at closing. This transaction welcomed back Silver Lake as an investor, the founder which launched Vantage in 2010.
Vantage also secured additional funding from new and existing investors globally. This included a €1.4 billion investment from GIC and MEAG for Vantage's EMEA platform and a £600 million transaction that represented the region's first asset-backed securitization of a data center. Vantage's APAC platform received a $64 million loan from CTBC Bank and Cathay United Bank, completing the first greenfield hyperscale data center financing transaction in Taiwan, and issued the company's inaugural bonds in the Asia-Pacific region. The company also continued significant growth in North America, partially fueled by a $3 billion green loan led by Wells Fargo to fund at least eight new and existing data center sites.
Strength in Leadership
As Vantage continued to rapidly scale globally, the company attracted industry veterans to lead its growth. In 2024, Vantage appointed new regional presidents in North America, EMEA and APAC, welcoming Dana Adams, David Howson and Jeremy Deutsch respectively.
Vantage also welcomed Emily Friedberg as the company's first chief technology & innovation officer, cementing its commitment to not only housing the technology of many of the world's largest, most innovative companies, but investing heavily in Vantage's own innovation within its global data center platforms.
Vantage's global employee base reached more than 1,700 at year end, growing 32% year over year.
Continued Global Expansion
Throughout 2024, Vantage launched campuses in new and existing markets while continuing to develop many of its growing campuses. In one of several firsts, Dublin welcomed Vantage's inaugural campus in Ireland, which will deliver 52MW of capacity in one of Europe's largest data center markets. Vantage also announced its first campus in Ohio and the Midwest region, which will provide 192MW of IT capacity.
Vantage broke ground on six campuses, including a second campus in Zurich, Switzerland, a second campus in Cyberjaya, Malaysia, that will total 256MW of IT capacity, a 68MW campus in Osaka, Japan and a third campus in Northern Virginia that will offer 288MW of capacity.
In addition, Vantage opened the doors to 11 new data centers last year across North America, EMEA and APAC, including its first facility in Taiwan.
This growth brings Vantage's planned and existing global capacity to more than 2.6GW. The company now has 35 campuses, including operational and under development, across five continents, spanning 14 countries and 21 markets.
Commitment to Sustainability, Community and EH&S
As Vantage continued to scale, the company maintained its focus on environmental stewardship and innovation and documented its progress towards achieving net zero carbon emissions by 2030 in its annual ESG report.
Giving back to its communities is a critical pillar of the company's culture. Last year, Vantage participated in a number of community engagement endeavors, including the launch of two partnerships in Ohio – the New Albany Community Foundation and the Columbus State Community College Foundation – as part of the company's entrance into the state.
Committed to a culture of safety, Vantage achieved a Total Recordable Incident Rate of 0.26 in 2024, well below the industry average and below its corporate target despite an 83% increase in hours worked compared to the previous year.
For more information about Vantage's expanding global presence, visit https://vantage-dc.com/data-center-locations/.
About Vantage Data Centers
Vantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.
For more information, visit vantage-dc.com.
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Press Contacts
Mark Freeman
Vantage Data Centers
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+1-202-680-4243
Robin Bectel
REQ for Vantage Data Centers
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+1-202-936-6335