Bank vehicle to finance Bay Area tech start-ups

Business | 11 Jun 2019 4:08 pm

The Hongkong and Shanghai Banking Corporation launched a US$880 million (HK$6.86 billion) technology credit fund called GBA+ loans to provide financing support for innovation and technology start-ups in the Greater Bay Area.

The fund will offer senior debt financing to emerging firms in industries including e-commerce, fintech, robotincs, biotechnology, and medical technology in the Bay Area.

The start-ups may have obtained initial investment from venture capital or private equity companies instead of still standing in the phase of proving the feasibility of concepts.

 

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