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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.
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