Singtel Innov8, the corporate venture capital arm of Singapore Telecommunications (Singtel), has launched a US$250 million ($320 million) fund to invest in growth-stage artificial intelligence (AI) start-ups worldwide.
The AI Growth Fund will focus on companies developing technologies for customer engagement, network operations, cybersecurity, IT automation, enterprise AI platforms and industry-specific applications. Innov8 says portfolio companies will work with Singtel's operating units to test, integrate and scale their products in commercial environments.
"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,” says Edgar Hardless, chief executive officer of Singtel Innov8
The new vehicle comes in addition to Innov8's existing US$250 million evergreen fund, bringing the venture arm's total managed capital to about US$500 million. Since Singtel's strategic reset in 2021, the firm's investments have generated an internal rate of return of 26%, according to the company.
The fund is intended to support the rollout of AI technologies across Singtel's businesses. The group's Singapore operations and Australian subsidiary, Optus, will provide operational environments to trial applications in areas such as customer experience, network management, and workflow automation.
Meanwhile, Singtel’s Digital InfraCo (including the Nxera data centres and the RE:AI cloud platform) will supply computing capacity for AI workloads. As for NCS, it will help design, integrate and operationalise systems for enterprise and government customers at scale.
See also: NCS, Nvidia to drive sovereign agentic AI adoption in regulated sectors
The fund complements Digital InfraCo's recently announced Centre of Excellence for Applied AI with Nvidia, with Innov8 identifying and backing start-ups across the AI stack to give enterprises and government agencies a faster, more cost-effective path to deployment.
Singtel is also developing what it describes as an "AI Grid", combining 5G-Advanced networks, edge computing and cloud capabilities to support AI-driven applications. The infrastructure is managed through the company's Paragon platform, allowing enterprises to run workloads across network and cloud environments.
“Unlocking AI’s full potential requires…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,” says Hardless.
