More $$$ for AI. DBS, one of Singapore’s largest banks, has announced a three-year partnership with multi-asset investment platform Granite Asia to build investment and financing options for high-growth Asian companies. 

• The collaboration began with Granite Asia’s close of a $110M AI-focused IPO fund, which was offered to DBS’s wealth clients.
• FYI. The fund attracted investors from SEA, South Asia, and Europe.  

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🔢 More to come? 

Granite Asia said that this project will be the first of several similar funds planned under the partnership. 

• The firm will continue to develop funds exclusively for DBS clients and offer co-investment opportunities. 
• Oh, and they’re also planning to launch a private capital product that will provide non-dilutive capital to tech-enabled Asian businesses.

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📊 What’s in it for you

DBS will support Granite Asia’s portfolio companies by providing financial services, including corporate loans and M&A advisory. 

• It will also provide subscription financing and support for bond issuances. 

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↖️ The big picture

IPO-ready AI companies don’t just need the $$$, they also need behind-the-scenes support that can help them navigate capital markets and expansion. 

• DBS’s involvement in the partnership will enable companies to access crucial loans and advisory services, ensuring they are well-positioned for a successful IPO.