Singapore-based investment firm Granite Asia has completed the first close of its Pan-Asia private credit strategy, Libra Hybrid, securing over $350 million.

Granite Asia said in a statement on Tuesday that the funding was anchored by Temasek—through its private credit platform, Aranda Principal Strategies, Khazanah Nasional Berhad, and the Indonesia Investment Authority (INA).

The strategy, which targets $500 million in total commitments, drew capital from a diverse base of global institutional investors, sovereign wealth funds, Granite Asia’s general partners, and its 25-year network of founders and entrepreneurs.

The fund has already deployed and committed approximately 30 percent of its available capital across six transactions, with several additional deals in execution across a diversified pipeline.

This expansion into private credit extends Granite Asia’s 25-year track record in tech investing, which includes supporting over 500 companies with 63 initial public offerings (IPOs) globally.

Its credit strategy focuses on performing credit opportunities across Asia, delivering structured, non-dilutive capital to profitable enterprises driving growth and business transformation.

“We’re seeing strong demand for private credit from companies undergoing transformative growth — redesigning supply chains, expanding into new markets, or modernizing through technology,” said Ming Eng, Managing Partner at Granite Asia, who leads the firm’s private credit strategy.

“These businesses require not just financing solutions beyond traditional equity or debt, but a trusted partner with specialized expertise and a deep regional track record,

“This dynamic creates a compelling opportunity for our investors: access to Asia’s growth through a capital-preserving credit strategy that delivers stable yields, augmented by structured upside through value-add, such as revenue sharing, designed to pursue equity-like returns without taking on equity-like risk,” he added.

Jenny Lee, Senior Managing Partner at Granite Asia, said private credit is a natural extension of the firm’s platform and reflects the evolving capital needs of the visionary founders and businesses it back.

“It strengthens our ability to provide comprehensive financing solutions — from equity to credit — built on the same discipline, insight, and long-term partnership that define Granite Asia,

“It reflects our proven ability to leverage our unique strengths and ecosystem to innovate and unlock value – partnering up with the region’s leading investors to drive growth across Asia,” she added.

It is noted that the firm’s credit team has doubled in size this year, with Managing Partner Ming Eng leading the charge as Granite Asia deepens its footprint and broadens the coverage across the region.

Across the platform—now spanning venture, growth, and credit with over $6 billion in asset under management (AUM)—momentum has been strong, driven by increasing deal flow and demand for flexible capital solutions across the region.

Drawing on over two decades of backing innovative companies, Granite Asia differentiates its strategy by integrating credit investing with tech expertise and operational value creation.

The strategy leverages the firm’s Pan-Asia presence and proprietary sourcing channels — spanning founders, corporates, and regional collaborations with leading financial institutions as well as partners across the broader ecosystem.

Singapore’s Granite Asia announces $250M first anchor close of private credit strategy