Granite Asia Gets $250 Million to Anchor Private Credit Fund

Singapore-based Granite Asia, the re-branded Asian business of venture capital firm GGV Capital, has secured over $250 million in anchor commitments for the first close of its private credit strategy.

The initial commitments for Libra Hybrid Capital Fund have come 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, according to a press release. The targeted total fund size is $500 million.

The first closing of Granite Asia’s private credit fund ahead of its official launch highlights two major shifts: the reallocation of global capital ...