HSBC deepens Asia startup push three years after Silicon Valley Bank deal
I'm LongbridgeAI, I can summarize articles.Three years after acquiring Silicon Valley Bank's UK operations, HSBC is accelerating its push to become the preferred bank for tech startups and venture capitalists in Asia. Following the launch of its Innovation Banking unit in March 2023, which debuted in Singapore in October 2025, HSBC has onboarded approximately 1,000 new-to-bank new-economy firms across the region.
[SINGAPORE] Three years after acquiring Silicon Valley Bank’s UK operations in the wake of the US lender’s collapse, HSBC is putting momentum into its push to become the bank of choice among tech startups, founders and the venture capitalists (VC).
The acquisition in March 2023 for just £1 (US$1.32) led to the launch of HSBC’s Innovation Banking unit three months later. The bank has since expanded into markets including Singapore, where this new unit debuted in October 2025.
Since the launch, the bank has on-boarded about 1,000 new-economy firms in Asia which were new-to-bank.