Singapore is raising most of Southeast Asia’s data-center equity, while more of the physical infrastructure is spreading across the region. Five Singapore-headquartered operators account for roughly 98% of the $11.5 billion raised by Southeast Asian data-center companies, according to research firm Tracxn.

DayOne leads with $6.4 billion, followed by Princeton Digital Group at $2.2 billion, ST Telemedia Global Data Centres at $1.3 billion, Singtel’s Nxera at $806 million, and Digital Edge at $640 million. The concentration reinforces Singapore’s role as a financing and corporate base even as operators add capacity in Indonesia, Malaysia, and…

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