Granite Asia Closes $110 Million AI IPO Fund for DBS Group's Wealth Clients

By Megan Cheah

Singapore-based asset manager Granite Asia has closed a $110 million artificial-intelligence initial-public offering fund, exclusively for lender DBS Group's wealth clients.

This comes after the pair inked a three-year partnership to broaden access to capital for high-growth Asian companies, DBS and Granite Asia said Monday.

This AI fund, the first of the funds to be developed for DBS clients under the partnership, aims to give these clients access to IPOs of AI-driven companies in Asia, the companies said. It drew broad-based participation from investors in Southeast Asia, South Asia and Europe, they added.

DBS, Southeast Asia's largest lender by assets, will also support Granite Asia's funds and portfolio companies through the bank's corporate and investing banking franchise, they said.

The asset manager, which has $10 billion in assets under management and co-managed capital, had five listings and 10 additional IPO filings among its portfolio companies in the past six months, they said.

"With capital flows into Asia set to rise over the coming years, this initiative also catalyses a vibrant funding ecosystem at a time when listings are returning to Asia's equity markets," said DBS Group Chief Executive Tan Su Shan.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

February 22, 2026 22:58 ET (03:58 GMT)