Asia Digest: AVPN launches $15m AI fund; Gaw Capital doubles data centre capacity in Japan

Asia Digest: AVPN launches $15m AI fund; Gaw Capital doubles data centre capacity in Japan

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AVPN has launched a $15-million AI training fund for Asia’s underserved communities, while Gaw Capital Partners has acquired a data centre facility in Japan.

Google, ADB support AVPN’s AI initiative

Asian Venture Philanthropy Network (AVPN), a network of social investors in Asia, has introduced a $15-million fund supported by and the Asian Development Bank (ADB) to enhance AI knowledge in the region’s workforce.

The initiative, named the “AI Opportunity Fund: Asia-Pacific”, is a three-year programme aimed at providing essential AI training and tools for workers, particularly those from underserved communities.

The fund will be awarded to nonprofits, social enterprises, and workforce associations through an open call. Selected organisations will receive financial support, guidance, and customised AI training developed by Google and its partners, including support in local languages to help deliver skills training directly to their communities.

Gaw Capital buys data centre facility in Fuchu City

Hong Kong-headquartered real estate private equity fund Gaw Capital Partners has expanded its data centre portfolio by acquiring a 11,233 square metre property in Fuchu Intelligent Park, Fuchu City Japan, doubling the scale of their existing data centres in the area.

In a statement on Monday, Gaw Capital said that together, their properties totalling 22,202 square metres will make the largest data centre facility in Fuchu City in terms of IT load.

“Due to the technological advancements in 5G communications, 4K transmission, Internet of Things (IoT), artificial intelligence, auto-driving and more, there is an ever-growing amount of data traffic driving the demand for data centres to consolidate servers, store data, and manage network transport,” said Kok Chye Ong, the firm’s managing director and head of the Internet data centre (IDC) platform for Asia (excluding China).

Kok said that the firm will continue to focus on its IDC development in the future.

Gaw Capital has raised seven commingled funds targeting the APAC region since its inception in 2005. As of Q3 2023, it boasted assets worth $33.7 billion under management as of Q3 2021 and has raised $22.3 billion in total.

Edited by: Joymitra Rai

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