DBS, Southeast Asia’s largest bank, and Granite Asia, a leading multi-asset investment platform, have announced a strategic partnership to accelerate the growth of high-potential Asian companies. This collaboration, formalised through a memorandum of understanding, includes the launch of a $110m AI-focused initial public offering (IPO) fund, exclusively available to DBS’ wealth clients. The fund aims to bolster the region’s AI ecosystem by investing in high-growth AI-driven companies.
The partnership is a pioneering effort in the region, combining DBS’ banking expertise with Granite Asia’s investment acumen. The AI IPO fund, which has attracted investors from Southeast Asia, South Asia, and Europe, is the first in a series of planned funds. It reflects a strong global interest in Asia’s burgeoning AI sector, where over 13,000 AI-driven companies have been founded since 2015.
DBS will provide comprehensive support to Granite Asia’s funds and portfolio companies, offering services ranging from subscription financing to advisory for mergers and acquisitions. Tan Su Shan, CEO of DBS, highlighted the partnership’s significance, stating, “This partnership reflects our heritage as a development bank and our commitment to power Asia’s next generation of global category leaders.”
Granite Asia’s Senior Managing Partners, Jenny Lee and Jixun Foo, emphasised the collaboration’s potential to support founders and companies as they expand internationally. With capital flows into Asia expected to rise, the initiative aims to create a vibrant funding ecosystem, enhancing access to growth capital for ambitious companies.
The partnership marks a significant step in fostering innovation and growth in Asia’s technology sector, with future plans to develop additional funds and co-investment opportunities.
