TPG Growth has led a $150 million investment round for Infinidat, a provider of advanced enterprise-class storage solutions.
This is the second round of funding for the company, and brings the company's total funding to $230 million. Infinidat's post funding valuation is approximately $1.2 billion.
TPG will join Infinidat's board of directors.
“Enterprise storage is a very exciting area of investment right now,” said Tim Millikin, TPG. “There are many fast-growing companies that are providing incremental advancements to existing technologies, and then there is a much more rare set of companies that are developing fundamentally new storage architectures for the next generation data center.”
The investment was led by TPG Growth which recently closed its third fund on $3 billion, as PEI reported earlier this week. The fund beat its $2.75 billion dollar target in five months.
Previous TPG Growth investments have included Uber, Airbnb, Box, and SurveyMonkey.
Known investors in the fund include the Teachers Retirement System of Texas, the New Mexico Educational Retirement Board, and the State of Wisconsin Investment Board.