The fund offers flexible, non-dilutive private debt capital to businesses. This includes both tech-driven growth companies and traditional businesses undergoing digital transformation.
Granite Asia, an investment platform based in Singapore, has raised over US$250 million in initial commitments for its new private credit strategy called the Libra Hybrid Capital Fund.
As per a statement, the close comes ahead of the fund’s official launch.
The initial funding includes support from major Asian sovereign wealth funds, General Partners, and money from Granite Asia’s large network of founders and entrepreneurs.
Granite Asia says the Libra Hybrid Capital Fund raised money quickly because of two main market changes.
First, more local capital is now helping mid-sized Asian businesses during global uncertainty. Second, global investors are moving more money into fast-growing markets in Asia.
The Libra Hybrid Capital Fund is made to help fill funding gaps for companies growing within Asia Pacific. It mainly supports strong mid-sized Asian businesses that are growing through digital technology.
This fund gives companies another option besides regular bank loans. Using Granite Asia’s network and expert support helps them grow naturally or through mergers and acquisitions.
The fund provides secured loans in the Asia-Pacific region and follows a low-risk approach. It aims to provide steady income and higher returns by using Granite Asia’s technology network and active support for the businesses it invests in.
Jenny Lee, Senior Managing Partner at Granite Asia, commented, “Libra Hybrid Capital is a cornerstone of our multi-asset platform strategy, building on our 25-year track record of backing Asia’s most innovative companies. It expands our ability to support a broader range of businesses — particularly sizable, capital-efficient enterprises that fall outside the typical equity profile but form the backbone of Asia’s economy.”
The fund is managed by Granite Asia Partners Ming Eng and Roger Zhang, who both lead the credit solutions team.
“We’re seeing strong demand for flexible, non-dilutive capital from well-run businesses looking to scale. Our deal pipeline is active and proprietary, driven by our deep understanding of the region,” Zhang said.
Granite Asia, which was earlier called GGV Capital Asia, invests in countries like Southeast Asia, Japan, China, India, and Australia. The company manages US$5 billion in assets and has a strong history of investing in successful unicorn startups and helping them go public.
In April, Granite Asia partnered with Integral Corporation, a Japanese private equity firm known for buyouts, to create a joint venture called Granite-Integral. This new partnership will invest in fast-growing companies connected to Japan, helping tech businesses expand into Japan and supporting Japanese companies looking to grow internationally.
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