APAC firm Evolution Data Centres has secured investment from a division of the Abu Dhabi sovereign wealth fund.

Announced this week, Zero Two has invested in Evolution, taking a co-controlling position alongside Warburg Pincus. Terms of the deal were not shared, though Mingtiandi puts the figure at $325 million.

Darren Webb, CEO and co-founder of Evolution Data Centres, said: “We are absolutely delighted to welcome Zero Two as a strategic investor. Their support marks a major milestone for Evolution Data Centres and will significantly accelerate our mission to deliver sustainable, high-performance digital infrastructure across Southeast Asia. Together with our investors and partners, we’re powering the next phase of digital transformation in the region.”

Zero Two is a digital infrastructure development and investment platform headquartered in Abu Dhabi. Since its formation in 2022, the company says it has deployed more than 550MW of data center capacity in Abu Dhabi – though details aren’t clear. The investment in Evolution represents Zero Two’s first investment in Southeast Asia.

The company is part of ADQ – aka the Abu Dhabi Developmental Holding Company, a state-owned sovereign wealth fund based in Abu Dhabi.

Ahmed Al Hameli, CEO of Zero Two, added: “Evolution’s strong market positioning and leading execution capabilities make it a compelling fit for Zero Two’s long-term capital deployment strategy. Together, we aim to accelerate the scale-up of energy-efficient hyperscale data centers that meet the region’s rapidly growing cloud and AI demands.”

Founded in 2021 and headquartered in Singapore, Evolution secured backing from Warburg Pincus back in 2022. Evolution CEO Webb was previously the MD for Asia for IO Data Centres. Co-founder Ed Martin-Sperry was previously head of Asian TMT investment banking at ING.

The company has projects in development in the Philippines (69MW), and Thailand (52MW); both are due live next year. The company is targeting Vietnam but has yet to detail any projects there.

Andrew Fitzpatrick, principal at Warburg Pincus, said: “We see a high growth trajectory in modern data center capacity at scale across Southeast Asia’s significantly underserved markets, where cloud and AI demand is rising rapidly.

"With strong execution capabilities and the backing of leading investors and trusted local partners, Evolution is uniquely positioned as an early mover and leading sustainable data center platform in the region. We are pleased to have found a well-aligned and strategic partner in Zero Two to embark on this journey with us.”