"DBS, Southeast Asia's largest bank, and Granite Asia, an Asia-focused investment fund, are launching a new "first-of-its-kind" partnership to support new startups, underpinned by a new $110 million AI-focused IPO fund offered exclusively to DBS's high-wealth clients. The partnership, which will continue for three years, is part of a push to provide more capital for Asia's startups, which have fewer funding options available to them compared to those based in more mature Western economies."
""The U.S. is amply funded, if not overfunded," Jenny Lee, senior managing partner at Granite Asia, tells Fortune. (The U.S. accounted for 10 of the 11 largest deals of the last quarter of 2025, according to KPMG). "The rest of Asia is under invested [...] and Asia is not small," Lee adds. Southeast Asia's funding scene has struggled in recent years as investors hold back amid a challenging macroeconomic environment and a mixed record of returns."
DBS and Granite Asia have formed a three-year partnership to support startups through a $110 million AI-focused IPO fund exclusively for DBS high-wealth clients. The initiative aims to address a funding gap for Asian startups that face fewer financing options compared with Western counterparts. U.S. markets remain heavily funded while much of Asia is underinvested. Southeast Asia's funding environment has weakened as investors retrench amid macroeconomic challenges and mixed returns. Traditional banks often avoid lending to early-stage startups, so the partnership intends to invest earlier and cultivate long-term relationships with promising companies.
Read at Fortune
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