Private Credit Growth
Granite Asia’s Libra Hybrid Fund Exceeds $500 Million Target With Strong Institutional Backing
Anonymous
Key Points
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Libra Hybrid achieved a $350 million first close in December 2025.
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Libra Hybrid marks Granite Asia's first private credit offering, signaling a move into multi-asset investing beyond its traditional venture focus.
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DBS Private Bank joined as a limited partner in Libra Hybrid, expanding the investor base and collaboration with Granite Asia.
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Granite Asia's platform includes more than $10 billion in assets under management across venture-growth-credit and a 26-year track record spanning 500+ companies and 68 IPOs.
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Libra Hybrid’s portfolio includes sectors such as advanced manufacturing, consumer, and healthcare.
Granite Asia's Libra Hybrid fund has surpassed its $500 million fundraising target, marking the Singapore-based investment firm's debut into private credit investing Fund Selector Asia. The Pan-Asia strategy attracted new commitments from DBS Private Bank and other institutional investors, joining anchor backers Temasek, Khazanah Nasional Berhad, and Indonesia Investment Authority TechNode.
Since launching in 2025, Libra Hybrid has completed eight transactions, executed two exits, and distributed returns to investors PitchBook. The fund targets mid-market companies across Asia that lack access to traditional bank lending and public markets, focusing on advanced manufacturing, consumer, and healthcare sectors.
A First Step Into Private Credit for Granite Asia
Libra Hybrid represents Granite Asia's first private credit fund after 26 years focused primarily on venture and growth investing PitchBook. The oversubscription signals growing institutional confidence in the firm's ability to move beyond traditional venture capital into hybrid capital structures. Granite Asia now manages over $10 billion across venture, growth, and credit strategies, with a track record spanning 500+ companies and 68 IPOs Fund Selector Asia.
DBS Private Bank Joins as Major Limited Partner
DBS Private Bank became a new limited partner in Libra Hybrid, expanding the investor base beyond the fund's anchor supporters TechNode. This partnership deepens collaboration between the Singapore banking giant and Granite Asia. The move reflects DBS's strategic push into private credit investments for its affluent client base seeking alternative returns in Asia's growing mid-market.
Focused Deal-Sourcing Through Founder Networks
Libra Hybrid's investment approach prioritizes deals sourced through founder relationships rather than broad market syndication Fund Selector Asia. This selective strategy aims to identify underserved mid-market companies facing funding gaps. The fund targets businesses undertaking regional growth, supply-chain strengthening, and technology upgrades — areas where traditional banks have stepped back or moved slowly.
Strong Asian Appetite for Hybrid Capital Structures
The $500 million close reflects accelerating demand for private credit and hybrid capital across Asia TechNode. Mid-market founders increasingly seek flexible funding beyond traditional bank loans and equity dilution. Granite Asia's success signals a structural shift in how Asian businesses fund growth as public markets remain selective and bank lending narrows for certain sectors and deal sizes.
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