Granite Asia clinches $139.1m IPO as DBS partnership launches

The AI-focused IPO fund was distributed to DBS wealth clients.

Granite Asia closed a $139.10m (US$110m) artificial intelligence-focused initial public offering fund as its three-year partnership with DBS kicks off, according to a joint announcement.

The fund was distributed exclusively to DBS wealth clients and will invest in the IPOs of AI-driven companies in Asia.

Under the partnership, Granite Asia will develop new funds exclusively for DBS clients and offer co-investment opportunities.

DBS will provide Granite Asia’s funds and portfolio companies with subscription financing and corporate loans. It will also advise on merger and acquisition mandates, support bond issuances and prepare companies for an IPO.

More than 13,000 AI-driven companies have been founded in Asia since 2015, based on Crunchbase data as of 20 February 2026.

($1.00 = US$0.79)

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