HSBC partners with Antler to fuel Southeast Asian startups

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HSBC announced a partnership with Antler, a global early-stage VC firm, to extend its reach in Southeast Asia’s startup landscape.

This partnership offers startups and founders access to HSBC’s financial expertise and banking solutions, encompassing preferred business banking accounts, venture debt, and working capital facilities.

In addition to financial support, HSBC and Antler will engage in various joint initiatives, including workshops, mentorship programs, and networking events.

Deepak Jayaraman, Antler’s global head of business development, emphasized the significance of this collaboration, saying “it 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.”

In 2021, HSBC unveiled a US$200 million lending fund designed to support pre-profit new-economy businesses in Singapore looking to expand across Southeast Asia and beyond.

Meanwhile, Antler supports startups from “day zero,” working with founders as early as the idea formation stage and becoming an investor when these companies launch. 

The VC firm evaluates over 5,000 applications annually in Singapore alone, with the global number reaching around 120,000. Some of its portfolio firms include eSIM subscription firm Airalo, tech and lifestyle marketplace Reebelo, and enterprise-focused fintech firm Volopay.

See also: Decline in YC funding to SEA firms ‘not intentional’: CEO Garry Tan