Japan's Aozora Bank ties up with Singapore VC Genesis Alternative
SINGAPORE, NNA - Japan's Aozora Bank has tied up with Singapore-based venture debt fund Genesis Alternative Ventures Pte. Ltd. to enhance its financial services for startups and help Japanese customers looking to expand into Southeast Asia.
Aozora Bank and its subsidiary, Aozora Corporate Investment Co., have signed with Genesis Alternative a memorandum of understanding to share expertise on venture debt and mutually introduce investment and financing opportunities for venture firms in each other's markets.
Genesis Alternative is a leading private lender to venture-backed and growth-stage businesses in Southeast Asia, notably fast-growing technology firms. It specializes in venture debt -- a type of debt for financing products offered to emerging companies.
Under the deal, both sides will also host joint events related to the venture capital industry, Aozora Bank said in a press release.
Aozora Bank has been actively expanding its overseas venture capital networks in recent years. It formed business partnerships with Beijing-based China Renaissance Holdings Ltd. in 2019 and SVB Capital of the United States, the venture capital investment unit of Silicon Valley Bank, in April this year. (NNA/Kyodo)