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HSBC Holdings plc (NYSE:HSBC) disclosed the launch of a Venture Debt offering worth $150 million in Singapore and a $1 billion ASEAN Growth Fund.
The bank aims to scale high-growth companies and digital platform businesses.
The Venture Debt capability offers companies a longer term and flexible financing solution for various funding requirements such as capital expenditure, runway extension, or working capital for up to three years in tenor.
This launch complements HSBC’s existing New Economy Fund of $200 million to support working capital requirements of early-stage start-ups, thereby creating comprehensive financing solutions for new economy clients across different stages of growth.
The new economy clients can access more specialized financing structures, including those involving equity warrant instruments through HSBC Venture Debt.
Priya Kini, Head of Commercial Banking, HSBC Singapore, said, “Singapore has a thriving ecosystem of start-ups, investors, and accelerators which HSBC is part of. A common pain point we hear from start-ups is finding the right financing partner that understands their needs and can support them throughout their growth trajectory – from access to knowledge to skills and funding to strategic partnerships and network for their global expansion.”
This month, HSBC reportedly planned to recruit about 50 more bankers in its U.S. commercial bank to lend to startup companies, mainly in the technology and healthcare sectors.
Investors can gain exposure to the stock via Themes Global Systemically Important Banks ETF (NASDAQ:GSIB) and Avantis International Large Cap Value ETF (NYSE:AVIV).
Price Action: HSBC shares are down 1.34% at $39.17 premarket on the last check Wednesday.
Image: Shutterstock/ sylv1rob1
