Jenny Lee, Granite Asia senior managing partner.

Singapore-based venture capital firm Granite Asia has raised over $250 million in anchor commitments from top Asian sovereign wealth funds to bankroll its private credit strategy.

Besides the fresh capital from Asian sovereign wealth funds, the initial funding commitments for the Libra Hybrid Capital Fund also came from Granite Asia’s existing general partners and its network of founders and entrepreneurs, the company said in a statement. The fund is targeting to raise as much as $500 million.

The fund will focus on providing secured loans with a defensive risk profile across the Asia Pacific.........

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