Participated · Debt Financing · Aug 2026

Flexential offers customizable IT and data center solutions for high-density computing needs, delivering services including colocation, cloud, interconnection, data protection, and professional services through its FlexAnywhere® platform. The company operates 40 data centers across 18 highly connected markets on a scalable 100+ Gbps private network backbone. Flexential positions its offerings to meet stringent security, compliance, and resiliency requirements for complex enterprise customers. The company is expanding capacity to meet growing enterprise and AI-driven demand and is investing ahead of customer needs. Its recent $800 million credit facility, supported by an 11-bank syndicate and equity sponsors GI Partners and MSIP, will fund more than 130 MW of new capacity across four key markets. Ongoing projects named in the financing include facilities in Atlanta-Douglasville, Portland-Hillsboro, Denver-Parker, and an expansion near Atlanta-Norcross.

Participated · Equity · Aug 2026

Vast develops Tripo Studio, a platform that generates 3D models from text and image prompts and powers interactive 3D avatars. The company has a partnership with NetEase to offer instant avatar creation in the role-playing game Yanyun Shiliusheng, allowing players to upload photos for avatar generation. Founded in 2023 by Song Yachen, Vast recently raised nearly $200 million and reached a reported $1 billion valuation. Investors in the company include Alibaba, Baidu and Yongce Capital. Vast is also reported to be exploring a Hong Kong IPO and is working with Bank of America and China International Capital Corporation on its stock issuance plans. The company has not announced detailed financial metrics or specific use of funds publicly in the reports.

Participated · Debt Financing · Jul 2026

Nebius builds and operates data centres packed with GPUs and offers access plus specialised software to AI and enterprise customers. It positions itself as a neocloud provider supplying AI compute at scale and has secured multi-billion-dollar contracts with Meta and Microsoft. In May it acquired Eigen for about $643m in cash and stock to improve performance of open-source AI models. To finance further expansion, Nebius is issuing $4.5bn of convertible notes, earmarked for data-centre build-out, AI cloud investment and GPU purchases. The deal structure comprises two tranches due in 2030 and 2034, reflecting significant near- and medium-term capital needs.

Led · Debt Financing · Jul 2026

OpenAI develops advanced artificial intelligence products, including ChatGPT and APIs for developers. The company is establishing The Deployment Company via a strategic alliance with private-equity partners to drive deeper enterprise integration of its AI tools. OpenAI will retain majority control of the joint venture, which is capitalized with more than $4.0 billion from investors and valued at about $10.0 billion. The initiative emphasizes embedding "forward-deployed engineers" inside client organizations to tailor and implement solutions. Target industries for deployment include financial services, health care, manufacturing and logistics. The move is part of a broader shift toward monetization and scaling enterprise adoption as OpenAI and peers consider potential IPOs, and it follows an internal leadership shift assigning Brad Lightcap to oversee related market-facing projects.

Participated · Debt Financing · Jul 2026

Nscale builds and operates vertically integrated AI data centers, controlling everything from renewable energy sourcing and facility construction to the compute stack and orchestration layer. Backed by Nvidia, the company is developing ‘Stargate Norway,’ an installation targeting 100,000 Nvidia GPUs by the end of 2026 with OpenAI as an initial customer. In October it also partnered with Microsoft and Dell to deploy roughly 200,000 Nvidia GPUs across four data centers in Europe and the U.S. The firm positions itself as a low-cost, green alternative for AI compute, pledging to reuse waste heat and invest in local skills and infrastructure. Its latest funding round values the company at $14.6 billion, placing it among Europe’s few AI decacorns. Nscale plans to use the new capital to accelerate build-outs in Europe, North America and Asia while expanding its engineering and operations teams. The company has hinted at a possible IPO as early as this year to further bolster its capital base. High-profile board appointments—including Sheryl Sandberg, Susan Decker and Nick Clegg—underscore its growing prominence.