From seed to IPO: HSBC’s $1-bn funding to startups
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New Delhi: HSBC India on Thursday announced the launch of its ‘Innovation Banking’ in India, which of-fers banking and financing solutions to support entrepreneurial businesses throughout their lifecycle, from seed to IPO, as well as their investors.
The bank plans to allocate $1 billion in non-dilutive debt capital to support Indian startups. The funding targets growth companies in early- to late-stage growth companies to scale their opera-tions without diluting equity, helping founders and investors to retain greater control over their businesses, a release from the bank said.
David Sabow, Global Head of HSBC Innovation Banking, said that the $1 billion allocation sig-nals a long-term commitment to India’s innovation economy, job creation, and skills develop-ment.
“With the launch of HSBC Innovation Banking in India, we are deepening our support for the vibrant startup ecosystem, where we have a proven track record of partnering with clients on their growth journeys,” said Ajay Sharma, Head of Banking, HSBC India. HSBC India has a substantial balance sheet allocation for fund financing acrossvcand domestic private equity funds.
