WS Investor
23 Feb 2026, 10:18
DBS Group and Granite Asia have entered a three-year strategic partnership to develop investment and financing solutions aimed at supporting Asia’s next generation of high-growth companies, beginning with the close of a USD 110 million AI-focused IPO fund.
The fund, distributed exclusively to DBS’ wealth clients, targets IPOs of high-growth AI-driven companies in Asia and is designed to accelerate the region’s AI ecosystem. Since 2015, more than 13,000 AI-driven companies have been founded in Asia, many now seeking capital to scale. The fund attracted investors from Southeast Asia, South Asia and Europe, reflecting strong global interest in Asian AI listings.
Under the partnership, Granite Asia will create new funds exclusively for DBS clients and offer co-investment opportunities. A private capital product is also in development to provide non-dilutive capital to technology-enabled Asian businesses, while giving DBS wealth clients access to asset classes typically reserved for institutional investors.
DBS will leverage its corporate and investment banking platform to support Granite Asia’s funds and portfolio companies across their lifecycle. This includes subscription financing, corporate loans, M&A advisory, bond issuances and IPO preparation, reflecting DBS’ integrated “One Bank” model that combines wealth management, institutional banking and global markets capabilities.
Granite Asia, which manages USD 10 billion in assets and co-managed capital, has invested in 127 unicorn companies and supported 65 IPOs globally. In the past six months alone, it has recorded five listings and 10 additional IPO filings among its portfolio companies.
DBS CEO Tan Su Shan said the partnership aligns with the bank’s heritage as a development bank and its ambition to power Asia’s next generation of global leaders, particularly as capital flows into Asia increase and equity market listings regain momentum. Granite Asia’s senior managing partners Jenny Lee and Jixun Foo highlighted the combination of technology-focused investment expertise and DBS’ regional banking strength as a platform to help founders scale across borders and mature into global champions.
The fund, distributed exclusively to DBS’ wealth clients, targets IPOs of high-growth AI-driven companies in Asia and is designed to accelerate the region’s AI ecosystem. Since 2015, more than 13,000 AI-driven companies have been founded in Asia, many now seeking capital to scale. The fund attracted investors from Southeast Asia, South Asia and Europe, reflecting strong global interest in Asian AI listings.
Under the partnership, Granite Asia will create new funds exclusively for DBS clients and offer co-investment opportunities. A private capital product is also in development to provide non-dilutive capital to technology-enabled Asian businesses, while giving DBS wealth clients access to asset classes typically reserved for institutional investors.
DBS will leverage its corporate and investment banking platform to support Granite Asia’s funds and portfolio companies across their lifecycle. This includes subscription financing, corporate loans, M&A advisory, bond issuances and IPO preparation, reflecting DBS’ integrated “One Bank” model that combines wealth management, institutional banking and global markets capabilities.
Granite Asia, which manages USD 10 billion in assets and co-managed capital, has invested in 127 unicorn companies and supported 65 IPOs globally. In the past six months alone, it has recorded five listings and 10 additional IPO filings among its portfolio companies.
DBS CEO Tan Su Shan said the partnership aligns with the bank’s heritage as a development bank and its ambition to power Asia’s next generation of global leaders, particularly as capital flows into Asia increase and equity market listings regain momentum. Granite Asia’s senior managing partners Jenny Lee and Jixun Foo highlighted the combination of technology-focused investment expertise and DBS’ regional banking strength as a platform to help founders scale across borders and mature into global champions.
