At the same time, the bank announced the launch of its US$1 billion Asean growth fund for Singapore-based digital platform businesses supporting e-commerce in the region. The fund, which is said to be the first of its kind, will help such businesses achieve economies of scale across multiple international markets, grow their asset portfolios and advance along the corporate lifestyle, says the bank.
HSBC, on March 27, announced the launch of two products targeted at new economy businesses.
The first is the US$150 million ($202.5 million) venture debt offering, that’s targeted at high-growth companies in Singapore that are backed by venture capital or private equity investors. The product will provide a flexible financing solution to support a range of funding requirements such as capital expenditure (capex), runway extension or working capital for up to three years in tenor.
