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DBS, Granite Asia team up to back Asia's next-gen companies; close US$110 mil AI IPO fund

Felicia Tan
Felicia Tan • 3 min read
DBS, Granite Asia team up to back Asia's next-gen companies; close US$110 mil AI IPO fund
Tan Su Shan, CEO of DBS; Jenny Lee and Jixun Foo, Senior Managing Partners, Granite Asia, at the memorandum of understanding signing ceremony. Photo: DBS and Granite Asia
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DBS Bank has entered into a three-year partnership with multi-asset investment platform, Granite Asia, to provide support for Asia’s next-generation companies.

The partnership, said to be the first of its kind in the region, will combine investment and financing solutions, widen access to capital and support these companies through their growth journeys. It will tap DBS’s corporate and investment banking franchise to support Granite Asia’s funds and portfolio copmanies, while leveraging Granite Asia’s experience in guiding companies from private markets to an initial public offering (IPO).

Granite Asia has already seen five listings and 10 additional IPO filings among its portfolio companies in the past six months, according to the investment platform.

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