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Economic Times

Economic Times

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HSBC setting up $1 billion growth fund to scale digital platform businesses in Southeast Asia

HSBC is establishing a $1 billion growth fund, named the ASEAN Growth Fund, to provide lending to businesses scaling up through digital platforms in Southeast Asia. The bank aims to tap into the region's rapidly growing digital economy, which is projected to reach $600 billion by the end of the decade. In addition to the lending fund, HSBC is launching a $150 million venture debt fund specifically for the Singapore market, supporting companies backed by venture capital or private equity firms. The move is driven by the region's digitally native and expanding workforce, poised to boost e-commerce and consumption.

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