HSBC expands innovation banking in Singapore

The bank deploys capital, talent, and global investor networks to help startups scale.

HSBC is deepening its commitment to Singapore’s fast-growing innovation economy with the official launch of HSBC Innovation Banking, a dedicated client segment aimed at supporting venture capital firms and their portfolio companies with capital, connectivity, and specialised banking services.

Speaking to Asian Banking & Finance, Neil Falconer, Head of Innovation Banking in Singapore, said the launch marks a strategic expansion of HSBC’s global innovation franchise. “It's the client segment within our corporate and institutional Bank, which focuses on banking the venture capital firms and their portfolio companies,” he said.

The unit already consists of 1,000 professionals across 10 hubs worldwide, and its Singapore entry plugs local clients into a powerful international network. “By bringing in the innovation bank brand to Singapore, we are able to connect our customers to 850 investors globally who cover 70% of the venture capital investment that happens,” Falconer said.

A key component of the launch is the US$1.5 billion capital deployment aimed at supporting scaling companies. “We're deploying $1.5 billion of capital into this space… we realise that capital is a key component for business startups to scale their business,” he said. HSBC is also investing in people and infrastructure to reduce friction for founders juggling early-stage pressures.

Falconer said Singapore’s role as the fifth-largest global venture hub and a top-tier startup market made it the natural base for expansion. “We have seen the momentum in this space over a number of years… these companies have great ideas that they need capital to go and deliver to the market and scale it in Singapore and beyond,” he said.

HSBC Innovation Banking will focus on two core pillars: financing VC funds and supporting their portfolio companies across sectors, including fintech and tech-enabled businesses with regional growth ambitions.

This interview was conducted at the sidelines of the Singapore FinTech Festival 2025.