Singapore Telecommunications' subsidiary venture capital firm launches $250 million AI startup fund.

Singapore Telecommunications' corporate venture capital arm is launching a $250 million fund to invest in high-growth artificial intelligence startups globally. Singtel said on Friday that, in addition to Innov8's existing $250 million fund, the total capital managed by Singtel Innov8 will reach $500 million. The company added that the AI growth fund aims to strengthen the Singaporean telco's AI strategy by deepening its role as a user, enabler, and provider of AI. The fund will focus on AI companies in crucial areas for Singtel such as customer interaction, network operations, and cybersecurity. Innov8 will also facilitate collaboration between invested companies and Singtel's operating units to promote solutions.