Wholesale AI infrastructure fund manager

Financing the physical infrastructure of artificial intelligence across Asia-Pacific.

Tik Token Capital develops, finances and operates liquid-cooled AI data centre and high-performance computing assets — the land, firm power, cooling and compute that intelligence now runs on.

Wholesale investor enquiries → Explore the strategy

TTC APAC AIDC Fund I — targeting US$1.5bn · first tranche US$500m · open now to wholesale investors

Liquid-cooled · ≥140kW / rack

NVIDIA GB300

US$10bn

Sponsor-originated build programme · over 3.6 GWh of curated projects pipeline across Australasia, Southeast Asia and UAE

AU AFSL 238128 · NZ FSP1010002 · Wholesale

Backed & sponsored by

Mubadala Capital — the wholly owned alternative asset management arm of Mubadala Investment Company, the Abu Dhabi sovereign investor. Established in 2011 and headquartered in Abu Dhabi, with offices in New York, London, San Francisco and Rio de Janeiro, it invests across private equity, public equities, venture capital, credit and sovereign investment partnerships, and manages, advises and administers over US$600bn in assets across its wholly owned businesses and strategic partnerships. mubadala.com →

US$1.5bn

Target raise for Fund I · first tranche US$500m

Unit classes — senior secured, subordinated & equity

Core markets across Australasia & Southeast Asia

A$4.3bn

Group AUM across the Sapien ecosystem & JV partners

The opportunity

The binding constraint on AI is no longer chips. It's infrastructure.

NVIDIA's Blackwell class draws up to ~1,100W per GPU at rack densities beyond 140kW — loads air cooling cannot dissipate. The real bottlenecks are land, firm power and liquid cooling: financeable, hard-asset exposures.

Compute

GPU clusters & AI servers financed on an asset-backed basis, underwritten to conservative residual values.

Firm power

Behind-the-meter and grid-firmed supply — the single hardest constraint on delivery.

Liquid cooling

Direct-to-chip and immersion plant — a hard prerequisite, not an optimisation, for new-build AI capacity.

Land & grid

Sites with shell, substation and grid connection — the longest-duration, lowest-volatility collateral.

Read the full thesis →

TTC APAC AIDC Fund I

Three unit classes. One asset-backed capital structure.

An open-ended wholesale unit trust, denominated in USD, letting investors match their risk-return appetite — from senior secured income to development-stage equity upside.

Last-loss tier

Class A

First-Ranking Asset-Backed

7% p.a. target IRR

Strongest, senior-ranking capital protection

SecuritySenior asset-backed
ProfileStabilised, contracted
DistributionsQuarterly

Class B

Subordinated Asset-Backed

15% p.a. target IRR

Enhanced returns with strong protection

SecuritySubordinated asset-backed
ProfileSecond-ranking
DistributionsQuarterly

First-loss tier

Class C

Preferred Equity

30%+ p.a. target

Development-stage upside · no collateralisation

SecurityEquity (unsecured)
ProfileGreenfield / development
UpsideResidual returns

Explore the Fund, waterfall & fees →

Geographic mandate

Anchored in Australasia. Extending across Southeast Asia. Accelerated from the UAE.

A developed, rule-of-law core paired with the fastest-growing digital economies on earth — and privileged sponsor access in the Gulf.

Core · Australasia

Australia & New Zealand

Sydney · Melbourne · Auckland

Submarine-cable connectivity, mature data-sovereignty law, and unrestricted access to US accelerator supply chains.

Core · Southeast Asia

Southeast Asia

Singapore · Johor · Jakarta · Hanoi · Bangkok

Lower land and power costs, with Sapien regional offices in place since 2020 for local origination.

Opportunistic · UAE

United Arab Emirates

Abu Dhabi · Dubai

Sponsor-accelerated access to site, power and hardware allocation, alongside deep sovereign-fund commitment.

Programme partners & suppliers

Ultimate AIDC

Connectivity, facilities and hardware partners associated with the sponsor group's UAE–Australia AI supercomputing programme. Logos are the property of their respective owners and shown for identification only.

Wholesale investors only

Request the Information Memorandum.

TTC APAC AIDC Fund I is open to wholesale investors. Register your interest to receive the full Information Memorandum and class term sheets.