Singapore-based venture capital firm Empyrean Sky Partners said it has secured $90 million in the first close of its Global Technology Fund, marking what the firm described as the fastest initial close of 2026 as it targets $200 million for investments in next-generation industrial technologies.
The firm said the fund will focus on growth-stage companies operating at the intersection of artificial intelligence, robotics and advanced manufacturing, sectors increasingly viewed as central to the next wave of industrial productivity and global technology deployment.
The fund is co-managed with Lion X Ventures, the technology venture investment arm advised by OCBC.
The partnership combines Empyrean Sky Partners’ experience in growth-stage investing with Lion X Ventures’ venture network and institutional relationships.
The firms said the collaboration is designed to help identify and scale companies across multiple stages of technological innovation, offering portfolio companies not only capital but also access to global networks and operational expertise to accelerate commercialization.
As part of the strategy, the fund has formed a strategic partnership with Dreame Technology.
The collaboration will allow portfolio companies to tap Dreame’s industrial insights, engineering capabilities and commercialization channels to bring products to market faster.
Empyrean Sky Partners said the speed and scale of the $90 million first close reflected strong demand from institutional investors, family offices and industry participants seeking exposure to technology platforms that integrate AI with physical systems.
Ming Lei, chairman and founding partner of the firm, said the fund aims to support entrepreneurs developing intelligent systems by providing long-term capital and access to global industrial ecosystems.
His previous investments include stakes in NIO Inc., RLX Technology and POP MART.
Irene Guo, chief executive of Lion X Ventures, said transformative technology companies increasingly operate across borders from the outset, and the partnership is designed to help founders expand into international markets more quickly.
According to the firm, growth-stage funds that combine capital with strategic industrial partners remain relatively uncommon.
By pairing sector expertise with industrial collaboration, the fund aims to provide investors exposure to companies shaping the next era of intelligent industry.
The fund will invest in businesses that combine software intelligence with advanced hardware, including robotics, smart devices, logistics automation and industrial manufacturing.
With Asia emerging as a key innovation hub for these technologies, the firm said the strategy is positioned to support companies with global impact potential.
The rapid first close suggests sustained investor appetite for “AI-plus-hardware” investment themes, particularly as robotics, automation and smart manufacturing become critical to global supply chains.
Funds that combine venture capital with industrial partners may gain an edge by helping startups bridge the so-called “valley of death” between innovation and commercialization.
However, competition in the AI-robotics investment space is intensifying globally, and the ability to scale companies beyond Asia will likely determine whether such sector-focused funds deliver outsized returns.