Battery Global Advisors, a US investment fund, has bought a 20 percent stake in a data center company founded by Israeli singer Omer Adam.

Last week’s transaction values the company, Anan Data Centers, at NIS 1 billion ($306m).

The funds will be used to build data centers across Israel. The company is currently pursuing land acquisitions that could push its total capacity to around 300MW.

Last year, Anan secured a NIS 420 million loan from Mizrahi Tefahot Bank and NIS 200 million in equity from its founders.

This includes brothers Maor and Snir Malul, owners of real estate company the Europe Israel Group. In May 2021, the brothers, along with Adam, announced that they would develop an underground data center in the city of Afula.

It is unclear whether this is the same project as a 64MW development in Afula listed on Anan’s website, which seems to still be in development. A site plan shows that the facility would offer an underground floor and three above ground floors at completion.

The company also has another data center – a 32MW, 30,000 sqm (322,917 sq ft) development near the city of Bet Shemesh – in development.

Omer Adam first made his name in 2009, when he was disqualified from Israeli reality TV singing competition Kokhav Nolad for being too young to participate.

Adam previously courted controversy in 2022 after releasing a song about Russian-speaking Israelis deemed racist and sexist.

The singer sold out a concert in Madison Square Garden last month.

Boston-based Battery Global Advisors states that it manages over $4bn of assets for global investors. The firm also has an office in Ra’anana, Israel.