Marvelstone Group, the private investment firm based in Singapore, has launched a private equity fund to drive artificial intelligence (AI) investment. The group will invest in AI startups and projects through Marvelstone Capital, across geographies including the UK, China, Singapore, and Canada. The open-ended, stage agnostic fund is targeting a capital raise of US$20 million in its first stage, with an investment thesis that balances investments between developed and emerging markets to maximise portfolio synergies. One of the fund's first key investments will be into an AI hub project, with capital deployments to begin in 2018. Joel KO Hyun Sik, President of Marvelstone Group, said: "We see AI as a paradigm shifting technology, along with blockchain. The launch of this private equity fund is in line with our earlier announcement from October last year to launch an AI hub. We have also been building a database of global AI startups and projects, with plans to invest in startups at the cutting edge of global trends."