HSBC has launched a $1 billion Asean Growth Fund to help scale up platform players in the region’s digital economy.
The aim is to help digital firms achieve economies of scale and grow their asset portfolios. The fund is aiming 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, a media release said.
In Asean, the London-headquartered global 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, a spokesperson...
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