Singtel Innov8, the corporate venture capital arm of Singtel Group, announced on March 13 the launch of a new US$250 million AI Growth Fund aimed at investing in high-growth artificial intelligence startups worldwide and accelerating applied AI adoption across the Group.
The initiative is intended to strengthen Singtel’s position as an adopter, enabler, and provider of AI technologies. The fund will focus on growth-stage companies working in areas such as customer engagement, network operations, cybersecurity, IT automation, enterprise AI platforms, and industry-specific solutions.
Edgar Hardless, CEO of Singtel Innov8, said, “Our AI Growth Fund gives Singtel Group strategic access to transformative AI technologies at a pivotal stage of growth. It also enables us to test, integrate and scale AI innovations across our networks, platforms and digital infrastructure. By investing with clear deployment pathways, we accelerate applied AI adoption for enterprises, governments and consumers across the region.”
The new fund adds to Innov8’s existing US$250 million evergreen fund. With this addition, total managed capital now stands at US$500 million. Since Singtel’s strategic reset in 2021, Innov8’s investments have generated an internal rate of return of 26%.
Innov8 aims to create a pipeline of deployable AI innovation across Singtel Group’s operating companies and supports public sector innovation through secure networks and advanced analytics. The fund complements Digital InfraCo’s Centre of Excellence for Applied AI with NVIDIA by identifying promising startups from infrastructure to applications.
Hardless added: “Unlocking AI’s full potential requires more than capital. It needs a vibrant, collaborative ecosystem where innovation can truly thrive. This initiative underscores the Group’s mission of empowering enterprises, governments and consumers with world-class digital and AI capabilities, reinforcing Singapore’s and the region’s position as a global hub for responsible and cutting-edge AI innovation.”
Established in 2010, Innov8 has made over 120 investments globally including Arista Networks and Shopback.
