Switch launches $2 billion private fundraising round, led by a16z

According to Bloomberg, data center operator Switch has launched a $2 billion private financing round, led by a16z with an investment of approximately $400 million. Goldman Sachs and JPMorgan are assisting with the process, and the financing is intended to prepare for an IPO as early as next year. After the financing, Switch’s enterprise valuation including debt is close to $50 billion, with its equity valued at around $19 billion. Relevant negotiations are still ongoing. Switch is headquartered in Las Vegas, and the majority of its shares are held by DigitalBridge. In 2022, DigitalBridge and other investors such as IFM Investors privatized Switch in a deal valued at about $11 billion.