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HSBC Malaysia launches USD106.92m new economy fund


HSBC Malaysia has unveiled a USD106.92m ‘HSBC New Economy Fund’ to boost high-growth businesses in the country’s burgeoning digital sector. Announced at the Accelerating Sustainability through the Digital Economy event, the fund aims to back tech-driven firms and startups from Series B stage onwards. Omar Siddiq, HSBC Malaysia’s CEO, remarked on Malaysia’s position at the heart of ASEAN’s booming startup scene and emphasised HSBC’s commitment to nurturing new economy entities. The bank’s move aligns with Malaysia’s long-term goals to fortify its startup ecosystem, as reflected in its Madani Framework, New Industrial Master Plan 2030, and the Malaysia Startup Ecosystem Roadmap. Karel Doshi, Head of Commercial Banking, HSBC Malaysia, highlighted the bank’s enduring role in Asia and its dedication to fostering Malaysia’s innovative economy.

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