SINGAPORE, November 15, 2023 – HSBC Singapore has partnered with Antler, an active early-stage venture capital (VC) firm in the world1, to support the expansion of Southeast Asian innovative firms and Singapore-based entrepreneurs. This announcement was made at the ongoing Singapore Fintech Festival 2023.
Through this partnership, Antler’s network of startups and founders will have access to banking solutions and financial expertise, including working capital facilities, venture debt, and preferred business banking accounts, all of which will support their needs and facilitate their growth and future expansion.
Jo Miyake, Chief Commercial Officer, Commercial Banking, HSBC said, “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. With Antler’s specific focus on investing in ‘day zero’ founders who are at the very beginning of their startup journey, this partnership was a natural extension of our and our long-standing heritage and commitment to supporting the upcoming generation of entrepreneurs.”
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 internationalisation benefits as they scale beyond Singapore by utilising HSBC’s vast global reach and deeply rooted local expertise in Southeast Asia and beyond.
Deepak Jayaraman, Antler’s Global Head of Business Development, said, “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. 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. We are excited to work together with HSBC as our preferred banking partner to broaden our ability to support our Singapore-based startups”.
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.
In addition to other innovative lending capabilities, in 2021, HSBC announced the launch of a US$200 million lending fund to support pre-profit new economy businesses in Singapore, seeking expansion across Southeast Asia and further afield. The fund provides access to financing solutions to companies that have already received funding from strategic investors, including venture capital or private equity firms, and have surpassed the proof-of-concept phase in the earliest stages of a start-up’s journey.
The partnership amplifies HSBC’s and Antler’s respective ambition to drive innovation by supporting entrepreneurs and affirms both organisations’ commitment to shaping dialogues and best practices in the financial and entrepreneurial landscapes.