Chinese data center operator Vnet is setting up a data center investment fund with Chinese insurance company Dajia. The fund will be jointly operated by Vnet and Dajia subsidiary Dajia Investment Holding Company and will make its first investment in Vnet’s Taicang IDC campus in the Jiangsu province north of Shanghai, China.
Described as a “significant milestone for China’s data center sector” by the two companies, the fund will be a pre-REITs fund targeting hyperscale sites. Vnet will own 51 percent of the fund, with Dajia taking the other 49 percent.
“It demonstrates our prowess in effectively managing capital and asset operating cycles, bolstering our capital sources with long-term investors while further enhancing our balance sheet efficiency,” he said. “We will continue to pursue innovative financing structures and explore exits for our existing premium data centers, building a healthy, sustainable capital and asset cycle that propels our long-term growth while contributing to China's high-quality digital economy development."
