Singapore-based Granite Asia, a $11 billion private capital platform, and Google’s AI Futures Fund will jointly back AI startups in Asia, co-investing up to $2 million in each alongside access to Google’s AI models.

In a statement on Tuesday, Granite Asia said the two sides have launched a program to source founders through Granite Asia’s existing fellows program and evaluate them together. Selected startups also get up to $350,000 in Google Cloud and Gemini credits, early access to Google models and joint development work with teams from Google and its DeepMind lab.

The program targets five areas, including AI × Science and Knowledge, AI × Industry Transformation, AI x Work, AI × Creativity, and AI × Entertainment. Founders can keep full choice over their underlying AI technology.

Granite Asia manages about $11 billion and has backed more than 120 companies and 70 public listings. Google’s AI Futures Fund, launched last year, invests in AI companies and offers capital, mentorship and early access to DeepMind’s models.

Jenny Lee, Granite Asia’s senior managing partner, said the next generation of AI companies would be built in Asia and scaled globally. The partnership can connect global AI capabilities with the region’s founders.

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