Investment company Digital 9 Infrastructure (LON: DGI9) has officially launched today and has at the same time announced its IPO in the London Stock Exchange.
With an IPO evaluated at £400 million (nearly US$550 million), the trust said its first investment in the digital infrastructure space will be in subsea cable operator AquaComms, which owns and operates 20,000km (12,400 miles) of trans-Atlantic subsea fibre systems. The investment could amount to as much as £160 million of the fund (~$220 million).
In a press statement, Digital 9 Infrastructure’s management entity Triple Point Investment Management, which manages more than £1.8 billion ($2.47 billion) in assets, explained that Digital 9 will invest in a range of digital infrastructure assets that deliver a reliable, functioning internet and will comprise future proofed, non-legacy, scalable platforms and technologies.
“Digital 9’s investment objective is to generate a total return for investors comprising sustainable and growing income and capital growth through investing in a diversified portfolio of resilient Digital Infrastructure Projects,” it reads on the business’ website.
The company expects to publish a prospectus in March and complete the IPO shortly afterwards.
James Cranmer, managing partner of Triple Point, said: “Digital 9 Infrastructure (DGI9) is an opportunity to invest in the true backbone of the internet.
“From day one, DGI9 will deliver returns underpinned by 20-year plus contracted revenue from some of the largest companies in the world, including Facebook, Apple, Amazon, Netflix, Google and Microsoft.”