Digital Alpha Raises $1 Billion for Second Infrastructure Fund

Digital Alpha, a U.S. investment firm focused on digital infrastructure, has raised more than $1 billion for its second fund.

The vehicle -- Digital Alpha Fund II LP -- will build a portfolio of about a dozen investments. The fund won backing from sovereign wealth funds, pension funds, endowments and other investors from North America, Europe and the Middle East.

“We’re proud of the role our investments play in providing secure connectivity for private and public sector stakeholders during the pandemic,” Rick Shrotri, Digital Alpha’s founder and managing partner, said in an emailed statement.

The fund will invest ...