Genesis Alternative Ventures launches venture debt business targeting Southeast Asia

Genesis Alternative Ventures has launched a Singapore-based private venture debt business targeting the startup scene in Southeast Asia.

The new fund is underpinned by Singapore’s Sassoon Investment Corporation, with PT Bank CIMB Niaga as its strategic partner in Indonesia.

From left: Genesis Alternative Ventures founders Ben Benjamin, Jeremy Loh, and Martin Tang / Photo credit: Genesis Alternative Ventures

Genesis, which launched the business just this month, has already backed local startups Horangi Cyber Security and Grain, as well as Indonesia’s coworking and office space startup GoWork.

In Singapore, the company looks to bank on the region’s growing tech startup space. It notes that emerging companies in the country now have easier access to venture debt due to the recent improvements to Enterprise SG’s finance scheme.

Genesis also said that it will rely on CIM Niaga’s presence in Indonesia to add value to its business in one of Southeast Asia’s largest economies.

Genesis is founded by active investors and experienced venture lenders: Ben Benjamin, Jeremy Loh, and Martin Tang. Benjamin currently serves as a non-executive director in equity crowdfunding company OurCrowd, while Loh and Tang have led DBS Venture Growth Partners with specialties in venture debt.