Zero Two, a digital infrastructure development and investment platform headquartered in Abu Dhabi, part of ADQ, has announced a strategic investment with Evolution Data Centres (Evolution), a leading sustainable data centre platform in Southeast Asia.
Zero Two’s investment in Evolution will provide long-term growth capital aimed at accelerating the deployment of hyperscale-ready data centres across key Southeast Asian markets. It also represents Zero Two’s first investment in Southeast Asia since its launch in 2022.
Under the terms of the transaction, Zero Two will assume a co-controlling position alongside Warburg Pincus, establishing a strong institutional partnership to support Evolution’s continued growth.
This marks a significant milestone in Evolution’s growth journey, following Warburg Pincus’s initial investment in 2022 through a joint venture to develop and scale sustainable hyperscale data centres in Southeast Asia’s fast-growing markets. Since Warburg Pincus’s initial investment, Evolution has significantly expanded its portfolio across Thailand, the Philippines, and Vietnam, all of which will be powered by renewable energy via Power Purchase Agreements (PPAs) with leading renewable energy providers.
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.”
Ahmed Al Hameli, CEO of Zero Two, said: We are excited to partner with Evolution and Warburg Pincus to support the expansion of digital infrastructure across Southeast Asia. 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 centres that meet the region’s rapidly growing cloud and AI demands.”
Andrew Fitzpatrick, Principal at Warburg Pincus, said: “We are excited to welcome Zero Two into our partnership with Evolution. We see a high growth trajectory in modern data centre 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 centre 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.”
