European investment fund Eurazeo is to invest €100 million ($108m) into developing data centers across Europe.

In a Euronext Paris stock exchange announcement this week, Eurazeo has announced a €100 million partnership with Metrobloks, a US-based developer and operator of data centers in metropolitan areas.

Under the agreement, the companies will acquire land and develop data centers in Europe’s Tier 1/FLAPD markets, as well as emerging Tier 2 markets such as Milan, Madrid, Lisbon, Berlin, and Manchester.

Eurazeo will contribute financial, strategic, and human resources through its newly launched EZORE fund.

Pierre Larivière and Riccardo Abello, co-heads of real estate at Eurazeo, said: “Metrobloks’ innovative approach to data center development aligns perfectly with our investment strategy focused on sustainable and high-growth real estate. Through this strategic partnership, we aim at penetrating the rapidly expanding data center sector, capitalizing on its high potential. We are particularly enthusiastic about this collaboration given the outstanding profile of the Metrobloks team and are committed to supporting the platform’s development and achieving significant success together.”

Metrobloks is a data center developer and operator focused on AI-ready facilities at the metro Edge. The company raised a $5.2 million seed round led by Current Equity Partners and Serena Capital last year.

Ernest Popescu, CEO at Metrobloks, added: “We are thrilled to partner with Eurazeo to deliver next-generation data center solutions to meet the evolving needs of the digital economy. Eurazeo’s deep understanding of real estate investment and their commitment to sustainability makes them an ideal partner as we expand our footprint in Europe.”

Popescu was previously a VP of data center development at Iron Mountain and has also held roles at Meta, Microsoft, and Amazon.

On its website, Metrobloks lists a 34.2MW, 196,980 sq ft (18,300 sqm) data center in Milan, Italy. The site can reportedly support up to 150kW per rack. In the US the company lists a 15MW, 110,000 sq ft (10,220 sqm) facility in Miami, Flordia, as well as another facility in Philadelphia, Pennsylvania.

Further details on any of the sites haven’t been shared.

Founded in 2001, Eurazeo is a European investment group with €36.1 billion ($39.1bn) in diversified assets under management. Launched in late 2024, the company’s EZORE fund is focused on real estate assets including data centers, student accommodation, senior living, and self-storage. The fund’s first investment was Italian thermal bath park operator, Aquardens.

Eurazo previously invested $46.8 million into data center operator Etix Everywhere – though Infranity owns a controlling stake in the firm.