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Home > Cloud Computing > DataBank received $185m equity investment

DataBank received $185m equity investment


Erdem Yasar Erdem Yasar
January 7, 2020
1 min read
DataBank received $185m equity investment

Data center, connectivity, and managed services provider DataBank received a $185m equity investment from Colony Capital.

Colony Capital has announced that the company made the investment into DataBank through the purchase of secondary equity interests from existing investors Edgewater Funds and Allstate. As a result of the agreement, Allstate will retain 50% of its interests and continue as a DataBank investor, while Edgewater will fully exit from its position. Nuveen will also continue as an investor in the company, holding its original stake. Edgewater’s Board Member will step down and be replaced by Justin Chang, Colony’s Global Head of Private Equity.

Secondary equity interests from existing investors

Raul K. Martynek, CEO of DataBank said:

“We are truly appreciative of the support we have received from Edgewater over these last four years. We look forward to having Colony Capital and its long-term investment vision behind DataBank as we continue to grow our platform.”

Justin Chang, Colony’s Global Head of Private Equity said:

“We are thrilled to be partnering with DataBank, its management team and investor group, to continue building the premier edge/colocation data center platform in the United States,” said Justin Chang. “We look forward to supporting the business with additional capital to fund potential add-on acquisitions and greenfield edge data center developments.”

Source: 1

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Tags: Colony Capital IncDataBankInvestmentRaul K. Martynek
Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7, Erdem was the managing editor of T3 Magazine.

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