🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

HSBC launches $228M venture debt fund for Australian tech startups

EditorHari Govind
Published 11/27/2023, 10:24 AM
Updated 11/27/2023, 07:06 PM
© Reuters.
HSBA
-
HSBC
-

HSBC has introduced a new $228 million venture debt fund aimed at supporting Australian technology startups, marking a significant move to bridge the funding gap for late-stage ventures in the region. The fund will offer flexible loans ranging from $10 million to $30 million, targeting venture capital-backed scaleup companies that are poised for their next phase of growth.

The initiative underscores HSBC's commitment to fostering the expansion of the tech ecosystem in Australia and New Zealand. Alan Watters, a spokesperson for HSBC, highlighted the bank's successful track record in venture debt through its operations in the United States and recognized the need for such financial instruments in sectors such as Software-as-a-Service (SaaS) and climate technology.

In addition to providing capital, HSBC's venture debt offering includes specialized banking services designed to cater to the unique needs of innovative firms. These services feature application programming interfaces (APIs), digital payment systems, access to HSBCnet, and an efficient digital onboarding process.

HSBC's efforts are not new to the technology sector; the bank has a history of supporting tech entities listed on indexes like XTX in their transition from private to public markets. With this latest venture debt solution, HSBC aims to continue playing a pivotal role in the development of high-growth tech companies in the region.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.