Singtel's Corporate Venture Arm Launches $250 Million Fund for AI Startups

Deep News

03/13

Singtel's corporate venture arm is launching a $250 million fund to invest in high-growth artificial intelligence startups globally.

Singtel announced on Friday that this new AI growth fund, combined with Innov8's existing $250 million evergreen fund, brings the total capital managed by Singtel Innov8 to $500 million.

The company added that the AI fund is designed to strengthen the Singapore telecom operator's AI strategy by deepening its role as an adopter, enabler, and provider of AI technology.

The fund will focus on growth-stage AI companies in areas critical to Singtel's operations, such as customer engagement, network operations, and cybersecurity. Innov8 will also facilitate collaboration between its portfolio companies and Singtel's operational units to deploy new solutions.

Established in 2010, Innov8 has made over 120 investments worldwide, including in used car marketplace Carro and digital wealth management platform Endowus.

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