Free Newsletter
Get the hottest Fintech Singapore News once a month in your Inbox
DBS and Granite Asia have kicked off a three-year partnership with the closing of a US$110 million AI-focused IPO fund targeting Asia’s next wave of tech listings.
The fund, distributed exclusively to DBS wealth clients, invests in the initial public offerings of AI-driven companies in Asia.
Granite Asia said the vehicle drew investors from Southeast Asia, South Asia and Europe. It provides exposure at the point of listing and supports the region’s expanding AI sector.
The fund is the first in a planned series of investment products under the partnership.
Granite Asia will structure additional funds for DBS clients and offer co-investment opportunities.
One upcoming product will focus on private capital aimed at accelerating technology-enabled transformation in Asian businesses through non-dilutive funding, while giving wealth clients access to asset classes typically reserved for institutional investors.
DBS will provide financing and advisory services to Granite Asia’s funds and portfolio companies, including subscription financing, corporate loans, mergers and acquisitions advisory, bond issuances and IPO preparation support.
Granite Asia said it has guided five portfolio companies to public listings and filed 10 additional IPO applications in the past six months.
Tan Su Shan
Tan Su Shan, CEO of DBS, said,
“This partnership, the first of its kind for DBS with an asset manager, reflects our heritage as a development bank and our commitment to power Asia’s next generation of global category leaders. It is a clear expression of our One Bank approach, where we bring together our wealth, institutional banking and global financial markets teams to serve clients seamlessly across their lifecycle.
By combining DBS’ capabilities with Granite Asia’s deep founder relationships and track record in backing innovative Asian champions, we can offer differentiated investment opportunities to our clients and create new pathways for ambitious founders to expand internationally.”
Jenny Lee
Jenny Lee, Senior Managing Partner of Granite Asia, said,
“Granite Asia brings a unique investment lens focused on technology and transformation, while DBS contributes unrivalled banking strength, capital markets expertise and regional networks.
Together, we aim to support founders and companies as they scale across borders and mature into enduring global leaders.”
