PSA International and Granite Asia launch $50m technology fund
Port operator PSA International and private capital firm Granite Asia have launched a $50 million fund targeting technology companies in the port, logistics, and supply chain sectors.
Singapore-headquartered port operator PSA International and Asia-focused private capital firm Granite Asia announced the launch of the US$50 million G&P Strategic Innovation Fund. The fund will invest in technology companies developing solutions for ports, logistics, and global supply chains.
The partnership between PSA International and Granite Asia also encompasses technology insights, venture engagement, talent development, and innovation partnerships. PSA stated the fund supports its artificial intelligence strategy.
The companies cited advances in AI, robotics, and automation creating new methods for moving goods globally as the impetus for the fund's creation.
Publicly available information does not clearly indicate comparable startup funds directly managed by port operators, although co-investment activity in maritime technology exists elsewhere.