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DBS, Temasek team up for $500 m debt financing platform

DBS and Temasek will jointly launch a $500 million growth stage debt financing platform EvolutionX Debt Capital or EvolutionX.Premium
DBS and Temasek will jointly launch a $500 million growth stage debt financing platform EvolutionX Debt Capital or EvolutionX.

  • EvolutionX will invest in opportunities arising from an increasingly digital economy, across sectors such as financial services, consumer, healthcare, education and industrial development, to accelerate growth and build the next generation of technology leaders

MUMBAI: DBS and Temasek on Friday announced an agreement to jointly launch a $500 million growth stage debt financing platform EvolutionX Debt Capital or EvolutionX.

Headquartered in Singapore, EvolutionX will provide non-dilutive financing to growth stage technology-enabled companies across Asia, with 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, across sectors such as financial services, consumer, healthcare, education and industrial development, to accelerate growth and build the next generation of technology leaders, they said in a statement.

Tan Su Shan, group head of institutional banking at DBS, said investment in EvolutionX provides an opportunity for it to play an integral role in nurturing and financing the growth of Asia’s future unicorns, while forging partnerships and ecosystem opportunities with these high-growth technology-enabled companies.

“As a purpose-driven bank, we believe in investing in solutions that democratise financing access to companies of all sizes and stages of development to give them the best opportunity to achieve their endeavours," said Shan.

According to Rohit Sipahimalani, chief investment strategist at Temasek, technology and digitisation will have a pervasive impact across many sectors and will continue to transform our economies and communities. Temasek believes in the purposeful use of our capital to create and catalyze solutions for gaps we see today, to stimulate innovation and growth for long term, sustainable value, said Sipahimalani.

“We are therefore pleased to partner with DBS to provide a meaningful alternative for technology-focused growth companies in Asia that may face debt funding needs between the venture debt and late-stage debt financing phases. With EvolutionX, we can help provide companies and entrepreneurs the support they need as they continue to scale and expand," said Sipahimalani.

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