PSA International, Granite Asia launch US$50 million fund for supply-chain innovation

[SINGAPORE] PSA International and Granite Asia announced on Wednesday (Sep 30) the launch of the US$50 million G&P Strategic Innovation Fund.

The fund aims to move promising technologies for ports, logistics and global supply chains beyond pilots to widespread adoption, in light of the rapid advances in AI, robotics and automation that have created new ways to move goods globally.

The tie-up will tap the port operator’s global footprint and expertise in operations and the fund manager’s experience in technology investment; the plan is to co-invest with Granite Asia’s existing funds in companies that are developing logistics solutions.

Jixun Foo, senior managing partner at Granite Asia, said: “The G&P Strategic Innovation Fund brings together Granite Asia’s technology investment platform with PSA’s global operational scale and supply chain know-how.”

The fund is part of a strategic partnership between PSA and Granite Asia, which also includes collaborations in technology insights, venture engagement, talent development and innovation.

Ong Kim Pong, group CEO of PSA International, said: “Innovation, automation and artificial intelligence are increasingly becoming critical differentiators in global supply chains.”