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Economic Times

Economic Times

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

HSBC has announced the establishment of a $1 billion growth fund called ASEAN Growth Fund, aimed at lending to companies scaling up through digital platforms in Southeast Asia. The bank recognizes the region's booming digital economy, which is expected to reach a value of $600 billion by the end of the decade. In addition to the lending fund, HSBC has also launched a $150 million venture debt fund specifically for the Singapore market, providing financing for VC or private equity-backed companies in the city-state.

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