Singapore’s venture capital firm Granite Asia has secured over $250 million in anchor commitments for its private credit strategy, Libra Hybrid Capital Fund, ahead of the official fund launch.

The initial commitments include backing from top Asian sovereign wealth funds, as well as capital from Granite Asia’s general partners and its 25-year network of founders and entrepreneurs, Granite Asia said in a statement on Thursday.

This swift anchor close highlights two powerful market shifts: the rise of regional capital supporting mid-sized enterprises as they navigate rising global uncertainties, and the reallocation of global capital towards Asia’s growth markets.

As supply chains and capital flows realign with regional priorities, Libra Hybrid Capital is well-positioned to bridge critical funding gaps for companies scaling within and across Asia Pacific.

A key pillar of Granite Asia’s multi-asset strategy, Libra Hybrid Capital is designed to capitalize on Asia’s growth fueled by digitalization and the rise of mid-market
companies scaling into regional and global champions.

The fund focuses on secured loans across the Asia-Pacific region with a defensive risk profile, offering stable cash yields alongside enhanced returns through Granite Asia’s technology ecosystem and hands-on value creation.

The fund provides established businesses—from tech-driven growth companies to traditional enterprises undergoing digitalization and tech transformation—with non-
dilutive private debt capital as an alternative to traditional financing.

This enables corporates to access bespoke funding to accelerate both organic and inorganic growth, while leveraging Granite Asia’s deep network for expansion and the strategic guidance from its seasoned team of operators and investors.

“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,” said
Jenny Lee, Senior Managing Partner at Granite Asia.

“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,

“With anchor commitments surpassing $250 million — representing over half of the fund’s target — we’re seeing strong conviction from institutional investors in our differentiated approach to capturing Asia’s next phase of growth,” she added.

The fund is led by Granite Asia Partners Ming Eng and Roger Zhang.

“Securing over $250 million in anchor commitments ahead of launch — led by some
of the region’s top sovereign wealth funds — underscores growing institutional
confidence in our approach,

“It affirms the strength of our credit strategy and Granite Asia’s ability to deliver disciplined, on-the-ground access to the region’s next wave of growth,” said Ming Eng, Partner, Credit Strategy, Granite Asia.

Roger Zhang, Partner, Credit Strategy, Granite Asia, added that they seeing strong
demand for flexible, non-dilutive capital from well-run businesses looking to scale.

“Our deal pipeline is both active and proprietary, driven by our deep understanding of the region,

“With Granite Asia’s unique strengths in tech enablement, we’re gaining early access to opportunities where our capital and network can truly accelerate outcomes,” he added.

Libra Hybrid Capital Fund is Granite Asia’s private credit fund, providing non-dilutive capital to Asia’s mid-market leading corporates, while accelerating their growth through technology enablement and strategic value-add.

Granite Asia, formerly known as GGV Capital Asia, is Asia’s multi-asset investment platform headquartered in Singapore.

The firm invests in the Asia Pacific (APAC) region including Southeast Asia, Japan, China, India, and Australia.

With assets under management (AUM) totaling $5 billion, the firm boasts investments in 48 companies with valuations exceeding $1 billion and has facilitated 30 initial public offerings (IPOs).

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