360 Capital Group has completed the AUD50 million (US$33.8 million) pre-IPO fundraising for its 360 Capital Digital Infrastructure Fund. 

360 Capital has entered into an engagement agreement with Shaw and Partners, Moelis Australia and Morgans Financial Limited as Joint Lead Managers and Bookrunners to the IPO. The IPO will be capped at AUD100 million (US$67.9 million).

The Fund is targeting a total return of 10.0% p.a. Following the acquisition of an interest in an operating data center business in Guam (AUD7.8 million; US$5.3 million) and the exchange of contracts on a fully leased data center in Perth (AUD37.0 million; US$25 million), the Fund has also invested into a AUD10.6 million (US$7.2 million) convertible note issued by a global hyper-scale data center operator. The two-year note has a coupon of 10% p.a. with certain rights at conversion.