HSBC Launches $1 Billion Asean Growth Fund to Support Digital Platform Businesses in Southeast Asia
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HSBC has launched a $1 billion Asean Growth Fund to help scale up digital platform businesses in Southeast Asia. The fund aims to support 'new-economy names', established corporates, and non-bank financial institutions by assessing operating metrics tied to their cashflow-generative asset portfolio, rather than relying solely on traditional financial metrics. The bank has a presence in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, and the fund will be looking to support businesses in these countries. HSBC's South and Southeast Asia head of commercial banking, Amanda Murphy, highlighted the region's potential for growth, with a digitally native working population that is increasing in size and poised to consume more goods and services, particularly in e-commerce. T...
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