What happened
Singapore-based asset manager Granite Asia closed a $110 million artificial-intelligence initial-public offering fund, exclusively for DBS Group's wealth clients. This fund, the first under a three-year partnership between Granite Asia and DBS, aims to provide clients access to IPOs of AI-driven companies in Asia. Investors from Southeast Asia, South Asia, and Europe participated. DBS, Southeast Asia's largest lender, will also support Granite Asia's funds and portfolio companies via its corporate and investing banking franchise. Granite Asia manages $10 billion in assets and co-managed capital.
Why it matters
Wealth managers gain a new mechanism to offer clients direct exposure to Asian AI IPOs, expanding investment avenues in high-growth technology. This $110 million fund, the first from the Granite Asia-DBS partnership, establishes a structured capital flow into Asia's emerging AI sector, supported by DBS's corporate banking. For investors, this provides a curated entry point into AI company listings.
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