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PT Super Bank Indonesia (Superbank) and Genesis Alternative Ventures (Genesis), Singapore-based venture lender, have launched a financing solution, with both entities committing up to IDR 600 billion ($39.38 million) to back innovative Indonesian startups. The financing solution combines the principles of conventional bank credit and venture capital investing to target Indonesian technology startups while extending working capital to technology startups with minimum dilution of shareholder equity, the duo said in a statement on Thursday.

For full TechNode Global article (31 August 2023)

Superbank, the Indonesia-based digital bank backed by Grab, Singtel, and Emtek Group, is partnering with Singapore-based Genesis Alternative Ventures to provide US$40 million worth of financing for Indonesian startups. In a joint statement, the companies said that the financing will combine conventional bank credit and venture capital investment, while minimizing equity dilution for shareholders. They will also primarily target firms at the series B and series C stages.

For full TechInAsia article (31 August 2023)

Indonesian digital lender Superbank has partnered with venture lender Genesis Alternative Ventures (Genesis) to launch a 600-billion-rupiah ($40 million) financing facility to support innovative local startups. The financing solution combines the principles of conventional bank credit and venture capital investing to target Indonesian technology startups, according to the announcement. The platform also seeks to extend working capital to tech startups with minimum shareholder equity dilution, focusing on venture-backed high-growth startups in the archipelago, particularly those at the Series B or C stages.

For full DealStreetAsia article (31 August 2023)

Berita startup hari ini mengenai PT Super Bank Indonesia (Superbank) telah menjalin kemitraan dengan Genesis Alternative Ventures (Genesis) untuk meluncurkan fasilitas pembiayaan senilai Rp 600 miliar bagi perusahaan rintisan atau startup di Indonesia. Pembiayaan ini merupakan gabungan antara kredit bank konvensional dan investasi modal ventura. Dengan fokus pada startup teknologi, pembiayaan ini juga menyediakan modal kerja dengan pengurangan minimal terhadap ekuitas pemegang saham. Pembiayaan ini akan ditargetkan untuk startup pada tahap pendanaan Seri B dan Seri C.

For full Dunia Fintech article (1 September 2023)

Superbank, the Indonesia-based digital bank backed by Grab, Singtel, and Emtek Group, joined hands with alternative lender Genesis Alternative Ventures to launch an IDR 600 billion (US$40 million) financing solution to back innovative local startups.

The solution combines the principles of conventional bank credit and VC investing in targeting technology startups while extending working capital to them with a minimum dilution of shareholder equity.

The focus will be Series B or C-stage companies.

For full E27 article (2 September 2023)

PT Super Bank Indonesia dan Genesis Alternative Ventures menjalin kerja sama pembiayaan senilai Rp 600 miliar kepada startup Indonesia yang melakukan inovasi. Direktur Utama Superbank Tigor M Siahaan mengungkapkan, Indonesia merupakan negara dengan ekonomi digital terbesar di Asia Tenggara. Pertumbuhan ekonomi digital diproyeksi hingga delapan kali lipat dari Rp 632 triliun pada 2020 menjadi Rp 4.531 triliun pada 2030. “Indonesia memiliki potensi dan peluang untuk semakin mengembangkan startup lokal dan ekosistemnya. Kami bekerja sama dengan Genesis menghadirkan sumber pembiayaan bagi startup Indonesia yang inovatif,” ungkap Tigor dikutip Investor Dialy, Jumat (1/9/2023).

For full Berita Satu article (2 September 2023)

PT Super Bank Indonesia (Superbank) dan Genesis Alternative Ventures (Genesis) berkolaborasi memberikan dukungan perusahaan rintisan (startup) di Tanah Air. Kedua entitas ini sepakat memberikan dukungan pembiayaan hingga Rp600 miliar. Solusi pembiayaan ini mengkombinasikan prinsip kredit bank konvensional dan investasi modal ventura untuk menarget startup teknologi Indonesia. Termasuk untuk menyediakan modal kerja bagi startup teknologi dengan dilusi minimal terhadap ekuitas pemegang saham.

For full Kabar Business Article (2 September 2023)

PT Super Bank Indonesia (Superbank) and Genesis Alternative Ventures (Genesis) have launched a financing solution worth US$39.3 million, or equal to Rp600 billion, to back the startup industry in Indonesia. The financing solution combines the principle of conventional bank credit and venture capital investing, targeted at Indonesia’s technology-based startups, while extending working capital to technology startups with a minimum dilution of shareholder equity. The collaboration between these entities emphasizes their strategic plans to empower Indonesia’s startups, specifically those at the Series B and C funding stage, to realize their further enhancement.

For full Heaptalk article (3 September 2023)

PT Super Bank Indonesia (Superbank) collaborated with Singapore-based venture capital Genesis Alternative Ventures (Genesis) to provide US$39,38 million in startup funding. Superbank President Director Tigor Siahaan said the funding would target startups with a minimum dilution of stakeholders’ equity. “Funding access plays important roles in developing innovative businesses,” Tigor said on Sept 1, 2023. The Superbank-Genesis funding has been targeting startups that are currently on the B or C Series of funding. Genesis Co-Founder and Managing Partner Jeremy Loh said Indonesia possessed great potential for technology-based businesses, thanks to a huge number of digital talents. “Genesis and Superbank have committed to support more Indonesian startups, in the middle of venture capital funding decreasing trend up to 60 percent from year to year,” said Loh.

For full Kata Data article (4 September 2023)

September 5, 2022 by Garage – Business Times

TOUGH market conditions are creating a spike in demand for venture debt among startups. A tighter funding environment along with unfavorable exit conditions in public markets have led to more venture debt requests, even more so than at the onset of the pandemic in 2020.

Venture debt provider Genesis Alternative Ventures has been tracking quarter-on-quarter growth in venture debt requests and is seeing an average of between US$80 million and US$100 million of requests per quarter currently.

Traction among investors for venture debt appears to be growing, as Genesis Alternative Ventures is now raising its second fund, with a target of US$150 million. Half of the funding target has been committed, with 80 per cent of the investors following on from the first fund.

Read the full Business Times article here.

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Venture debt provider, Genesis Alternative Ventures, has launched its second venture debt fund, with a target of US$150 million. About half of fund II’s target has been raised at the first close earlier in August. The first close had 80 per cent of fund commitments come from existing limited partners, Sassoon Investment, Aozora Bank, Korea Development Bank, Mizuho Leasing and Silverhorn among others. New investors also include OurCrowd, an Israel-based global venture investing platform.

For full Business Times article (25 Aug 2022))

Genesis Alternative Ventures, a private lender to ventures and growth-stage companies, is looking to raise $150 million for a second fund to finance startups across Southeast Asia. The Singapore-based firm has raised almost half of the fund at first close this month, with commitments from existing investors including Sassoon Investment Corp., Aozora Bank, Korea Development Bank, Mizuho Leasing and Silverhorn, Genesis said in a statement Thursday. Israeli investment firm OurCrowd Ltd. has joined as a new backer.

For full Bloomberg article (25 Aug 2022)

Genesis Alternative Ventures, a private lender to ventures and growth-stage companies, is looking to raise US$150 million ($209.1 million) for a second fund to finance startups across Southeast Asia.

For full The Edge Singapore article (25 Aug 2022)

Following the success of its debut $90million fund in 2019, Singapore-based venture capital firm Genesis Alternative Ventures has launched its second venture debt fund to raise $150m million to finance start-ups across Southeast Asia.

For full Technode Global article (25 Aug 2022)

Genesis Alternative Ventures第二次推出创投债务基金，筹集1亿5000万美元（2亿零870万新元）来资助东南亚起步公司。上一轮是在2019年，基金总额为9000万美元，已投资25家起步公司，其中两家是独角兽公司，即数据平台Matterport和金融服务平台Akulaku。

For full Lianhe Zaobao article (30 Aug 2022)

Pace, a Singapore-based fintech solution company that allows customers to ‘Buy Now Pay Later’ (BNPL), today announced that it has raised USD40 million in its Series A investment round. Investors that joined the round include UOB Venture Management (Singapore), Marubeni Ventures (Japan), Atinum Partners (South Korea), AppWorks (Taiwan), and a series of family offices from Japan and Indonesia. Previous investors, Vertex Ventures Southeast Asia, Alpha JWC, and Genesis Alternative Ventures also participated.

Following this investment round, Pace is now the fastest growing multi-territory BNPL player from Singapore. The new funding will go towards expanding technology, operations, and business development, to hit a Gross Merchandise Value run rate of USD1 billion in 2022 and grow its user base by 25X over the next 12 months.

To date, Pace has more than 3,000 points-of-sale across the region, driven by Pace’s ability to increase overall sales up to 25% by leveraging local customer insights, while driving repeat purchases from Pace’s fast-growing base of users.

Launched in 2021 by Turochas ‘T’ Fuad, Pace has successfully grown its overseas operations by working closely with regulators and adapting ultra-local approaches, such as integrating frequently used in-market payment methods to build resonance with merchants and shoppers. It will continue to replicate a hyperlocal framework as it goes live in new countries.

Read the full article here.

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Read the full article here.

Southeast Asia’s business community is buzzing as many of the region’s tech unicorns prepare to go public. Their listings are a validation of the blood, sweat, and tears of their founders, who will be worth millions through the value of their stakes in these companies.

However, according to a Tech In Asia report (26 October 2021), large tech companies that have gone public over the past three years, as well as those that are planning to have an IPO soon, indicates that many Southeast Asian founder have faced greater levels of dilution compared to their peers from other regions.

One possible reason cited for the higher level of dilution is that South-east Asia is not a single integrated market, unlike China or the US.

Another reason may be that most of these companies went through their initial fundraising at a time when venture capital interest in the region was far lower than it is today.

The article also highlighted the rise of venture debt in the SE Asia region could likely to improve this dilution problem. Venture debt is seen as founder-friendly, as it helps over-diluting shareholder equity at the early stages of a company’s growth.

On this issue, Genesis’ Managing Director, Jeremy Loh said, ““When these companies went through their initial fundraising rounds, venture debt was not a well-established source of funding in this region. However, the landscape has changed over the past two years. With increased acceptance of venture debt as a complementary financing tool, I am confident that future unicorn founders can retain a larger portion of their shareholder equity”.

Read the full article here.

Read more about venture debt: Top 10 questions Every Founder Asks About Venture Debt

The collaboration will extend Pace as an alternative payment option to over 20 international brands in the region, including consumer brands such as Michael Kors, TUMI, Victoria’s Secret, Bath & Body Works, Steve Madden, as well as Nike in Thailand and Pedro in Malaysia.

“We are very impressed with the incredible growth that Pace is experiencing. As one of the newer entrants, Pace has quickly captured the fintech market in the region,” said Jeremy Loh, managing partner of Genesis Alternative Ventures, in a statement.

Read the full article here:

An article written by Tech In Asia. Read the full article here

Singapore-based private lender Genesis Alternative Ventures said it has closed its US$80 million debt fund for Southeast Asia, which it claims is the first venture debt fund in the region.

The company didn’t specify, however, if this was the first or final close of the fund.

Anchored by Singapore’s Sassoon family – a clan known for its retail dealings – other investors in Genesis Alternative Ventures Fund I include Japan’s Aozora Bank, Korea Development Bank, and Hong Kong multiasset investment firm Silverhorn Group. Earlier backers include Indonesia’s CIMB Niaga and Seattle-based global investment impact fund Capria Fund.

“Venture debt in Southeast Asia has been thrust into the limelight during the Covid-19 period with entrepreneurs seeking more efficient capital and putting in place additional capital buffers,” said Genesis Alternative Ventures’ co-founder and managing partner, Jeremy Loh.

Read the full article here

An article written by Financier Worldwide. Read the full article here.

Amid the ongoing economic uncertainty emanating from the coronavirus (COVID-19) pandemic, an increasing number of capital-hungry companies are turning to venture debt as a relatively speedy way of accessing new funding.

Venture debt, as defined by the Corporate Finance Institute (CFI), is a type of debt financing obtained by both early and late-stage companies. It is typically used as a complementary method to venture equity financing and can be provided by both banks specialising in venture lending and non-bank lenders.

“Companies are operating in a very uncertain environment and businesses with solid fundamentals want to have an extra layer of a cash buffer to be able to steamroll ahead of their competition,” says Dr Jeremy Loh, co-founder and managing partner at Genesis Ventures. “Raising equity in this environment could mean a lower valuation that could hurt their next financing round ambition. An added advantage of venture debt comes in the form of bringing lenders that are sophisticated about innovative and disruptive new economy businesses into the capital stack and capitalisation table.”

Within the world of aspiring unicorns, entrepreneurs are optimistic about the use of venture debt, with many expecting the impact of COVID-19 on venture markets to lead to a permanent increase in the use of venture debt.

Read the full article here.

Indonesian social commerce platform RateS has closed a Series A round led by Vertex Ventures Southeast Asia & India, and venture debt firm Genesis Alternative Ventures.

An article written by Garage – Businesstimes.com.sg. Read the full article here.

The undisclosed funding will be used to accelerate RateS’ expansion in Indonesia’s underserved tier two and three retail markets via its reseller base of more than 500,000 agents.

Jake Goh, CEO and co-founder of RateS, said the company has seen resellers’ incomes increase by up to 50 per cent since joining its platform.

“As with many other models we have seen, e-commerce marketplaces in South-east Asia have long evolved into a race-to-the-bottom with cash serving as the only standing moat,” said Chua Joo Hock, managing partner at Vertex Ventures Southeast Asia & India.

Read the full article here.

An article written by Bisnis.com. Read the full article here.

PT Bank CIMB Niaga Tbk. collaborates with Genesis Alternative Venture (Genesis), a leading venture debt company in Southeast Asia to channel financing to Indonesian start-ups with a total commitment of IDR 300 billion.

CIMB Niaga Head of Commercial Banking Widodo Suryadi said that one of the company’s priorities is to support and assist customers and partners, including start-ups so that they can mutually maintain business continuity. Therefore, the funding commitment that has been prepared with Genesis is expected to be an alternative source of funding for potential start-up companies that have not met the criteria for conventional bank loans.

“Together with Genesis, we will continue to seek and provide financing for potential start-ups while at the same time expanding the funding ecosystem for start-up companies in Indonesia,” added Widodo.

As is known, venture debt is a form of financing that is directed to companies developing that shows great growth prospects and the need to maintain and extend its cash runway to reach the stage of growth, while reducing the dilution effect of fund-raising are done.

This financing scheme that combines the principles of conventional bank credit and ventures loan companies is the first in Indonesia.

Read the full article in Bahasa here.

Older Posts

Superbank and Genesis Alternative Ventures Launch IDR 600 Billion Financing Solution for Innovative Indonesian Startups

Tough Financial Conditions Belie a Ripe Venture Debt Market

Genesis Alternative Ventures Launches US $150 Million Second Venture Debt Fund

Pace raises USD 40 million Series A funding from Pan-Asian group of investors from Singapore, Japan, Korea, Taiwan, and Indonesia

SEA’s Unicorn Founders Give Up More Equity Than Their Peers

Pace Enterprise, a ‘buy now, pay later’ Fintech startup has raised an eight-figure debt financing round led by Genesis Alternative Ventures

Genesis Alternative Ventures closes $80m for first SEA venture debt fund

Capital idea: the rise of venture debt

RateS bags Series A funding led by Vertex and Genesis Alternative Ventures

CIMB Niaga-Genesis Offers Funds of Up to IDR 300 Billion for Start-Ups