# How can investors invest in data centers in Europe?

> Through four main routes, from most to least liquid: **listed shares** (REITs and operators), **private funds**, **co-investment or club deals** in a single project through an SPV, and **direct ownership** of land or buildings. Earlier stages, such as securing land and power, carry more risk and need specialist diligence.

By Razvan Toma, Founder & CEO, Ampervia · Last checked 2026-10-12 · https://ampervia.com/answers/invest-in-data-centers-europe/

## Key facts

- Germany’s Data Center Capital offers co-investment tickets of €25 million to €104 million in its projects (company website).
- Storm Group has pre-marketed a Luxembourg fund for buy-and-permit-ready European data center sites, with a regulated Luxembourg AIFM (Storm Group).

_Routes into European data centers_

| Route | Typical access | Liquidity | Main risk |
|---|---|---|---|
| Listed REITs and operators | Any investor | Daily | Market prices |
| Private infrastructure funds | Professional investors, high minimums | Low (fund life) | Manager, leverage |
| Co-investment / club deal (SPV) | Professional or eligible investors | Low (project life) | Single-project concentration |
| Direct land or buildings | Owners and developers | Very low | Power, permits, leasing |

## Questions to ask before investing in a site

- Is the power secured (permit or offer), or only published?
- Can the permit transfer to the end use?
- What is the fallback value if permits fail?
- Who operates the finished data center, and who are the tenants?

## Questions

### Is this investment advice?

No. This page explains how the market is structured. Investing in early-stage real estate and infrastructure can lose money.

## Sources

1. [Data Center Capital — investment](https://datacenter-capital.de/)
2. [Storm Group — Power at the fence](https://www.stormgroup.com/en/insights/power-at-the-fence)

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