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Reuters

Reuters

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

HSBC is establishing a $1 billion growth fund called ASEAN Growth Fund to support companies scaling up through digital platforms in Southeast Asia. The bank aims to tap into the region's fast-growing digital economy, projected to reach $600 billion by 2030. In addition to the lending fund, HSBC also launched a $150 million venture debt fund specifically for Singapore-based companies backed by venture capital or private equity firms. The move reflects HSBC's focus on supporting the digital transformation and growth potential in Southeast Asia.

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