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$500M Growth Fund for Early-Stage Startups Launched by DBS and Temasek for China, India, SE Asia
Singapore-based
DBS Bank Ltd (SGX:D05), a multinational banking and financial services corporation with over $330 billion in assets, and
Temasek have entered into an agreement to introduce a $500 million growth or early-stage debt financing platform, known as
EvolutionX Debt Capital.
Based in Singapore, EvolutionX will be offering non-dilutive financing to early or growth-stage tech-focused firms based in Asia, with a key focus on China, India, as well as the fast-evolving Southeast Asia region.
EvolutionX will bring together Temasek’s investment expertise and experience along with DBS’ international banking networks in order to support the fast-growing Asian tech ecosystem.
DBS and Temasek to launch debt financing platform in Asia ibsintelligence.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibsintelligence.com Daily Mail and Mail on Sunday newspapers.
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Temasek, DBS to launch US$500 million debt financing platform
Workers on gondola clean the glass panels of the DBS building in Singapore on August 5, 2015. (File photo: AFP/Roslan Rahman)
30 Jul 2021 01:06PM (Updated:
30 Jul 2021 01:10PM) Share this content
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SINGAPORE: Southeast Asia s biggest lender DBS Group and state investor Temasek Holdings will jointly launch a US$500 million debt financing platform, joining a growing trend by banks and investment funds offering debt funding.
Headquartered in Singapore, EvolutionX will provide financing to growth stage technology-enabled companies across Asia, with a focus on China, India, and Southeast Asia, DBS and Temasek said in a joint statement on Friday (Jul 30).
DBS, Temasek to launch $500 mn debt financing platform
Headquartered in Singapore, EvolutionX will provide non-dilutive financing to growth stage technology-enabled companies across Asia, with a focus on China, India, and Southeast Asia.
DBS and Temasek today announced that they have entered into an agreement to jointly launch a $500 million growth stage debt financing platform, called EvolutionX Debt Capital.
Headquartered in Singapore, EvolutionX will provide non-dilutive financing to growth stage technology-enabled companies across Asia, with a focus on China, India, and Southeast Asia.
The growth debt capital space presents a significant opportunity, and EvolutionX will invest in opportunities arising from an increasingly digital economy â across sectors such as financial services, consumer, healthcare, education and industrial development â to accelerate growth and build the next generation of technology leaders.