Global banking giant HSBC launched a dedicated “Innovation Banking” unit in Singapore with a US$1.5 billion capital allocation aimed at startups and venture-capital firms across Southeast Asia. The initiative includes a US$1 billion ASEAN Growth Fund, a US$150 million venture-debt arm and a US$200 million New Economy Fund. HSBC’s move signals increasing institutional banking focus on early-stage tech ecosystems and reflects shifting financial-services strategies toward startup finance and growth-capital support in the region.