HSBC Singapore has on Wednesday announced at a partnership with Antler, a Singapore-based active early-stage venture capital (VC) firm, to facilitate the growth of Southeast Asian innovation companies and entrepreneurs based in Singapore.
The duo said in a statement that this collaboration aims to provide startups and founders that are a part of Antler’s network access to financial expertise and banking solutions such as preferred business banking accounts, venture debt and working capital facilities designed to support their needs and enable their growth and future expansion.
“Singapore boasts a flourishing startup ecosystem with some of the most innovative founders in the region and incubator partnerships are an important part of HSBC’s strategy to strengthen our support to the new economy,
As a result of the partnership, all of Antler’s existing Singapore-based portfolio companies and founders will have access to HSBC’s products and services.
Entrepreneurs will also gain significant internationalization benefits as they scale beyond Singapore by utilizing HSBC’s vast global reach and deeply rooted local expertise in Southeast Asia and beyond.
“HSBC’s commitment to innovation and entrepreneurship closely mirrors Antler’s mission to support exceptional founders who are building great technology startups that solve real problems,” said Deepak Jayaraman, Antler’s Global Head of Business Development.
“Our collaboration with HSBC will provide our portfolio companies access to a strong international network of capital experts across the bank and a range of financing options to propel their growth,
According to the statement, Antler enables and invests in the next generation of entrepreneurs and companies, that address meaningful opportunities and challenges, moving the world forward with groundbreaking technology.
Core to Antler’s investment approach, the company integrates environment, social and governance (ESG) considerations into its investment decision making process at all stages, from pre-investment due diligence to post-investment monitoring and support.
It is also noted that many Antler portfolio companies have become leading players in their industries, for instance, eSIM marketplace Airalo; refurbished tech devices and sustainable lifestyle products marketplace Reebelo and financial solution provider Volopay.
In addition to other innovative lending capabilities, in 2021, HSBC announced the launch of a $200 million lending fund to support pre-profit new economy businesses in Singapore, seeking expansion across Southeast Asia and further afield.
According to the statement, the partnership amplifies HSBC’s and Antler’s respective ambition to drive innovation by supporting entrepreneurs and affirms both organizations’ commitment to shaping dialogues and best practices in the financial and entrepreneurial landscapes.
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group.
With assets of $3.02 trillion at September 30, 2023, HSBC serves customers worldwide from offices in 62 countries and territories.
Founded on the belief that people innovating is the key to building a better future, Antler partners with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges.
The firm has offices in 30 over cities, including Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney.
Its global community backs people from the beginning with co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding.
The firm has helped create and invest in more than 950+ startups across a wide range of industries and technologies, with the goal of backing more than 6,000 by 2030.