Asia Tech Wire (May 21) -- Singapore's sovereign wealth fund Temasek Holdings Ltd. is participating in a tech fund set up by an early investor in OpenAI, according to Bloomberg.

Alpha Intelligence Capital (AIC), which invests in artificial intelligence companies such as OpenAI, is raising to set up a $250 million fund and has received backing from government-owned investment organizations such as Temasek, the report said.

AIC has raised $160 million for the tech fund, the second it has set up, and is on track to finalize its fundraising by the end of September, said AIC partners Arnaud Barthelemy and Terry Chou.