DBS, Temasek set up $500 mn financing platform for growth stage firms

DBS said in a statement that EvolutionX will invest in opportunities arising from an increasingly digital economy - across sectors like financial services, consumer, healthcare, etc

Singapore-based financial services group DBS and Temasek have set up $500 million financing platform, EvolutionX Debt Capital (EvolutionX) for non-dilutive funding to technology-enabled firms with a focus on China, India, and Southeast Asia.

It will be led by Joint Interim CEOs Amit Sinha, Group Head of Telecoms, Media and Technology, at DBS, and Aftab Mathur, director, Investment, at Temasek, before a full-time CEO is appointed in the next few months.

DBS said in a statement that EvolutionX will invest in opportunities arising from an increasingly digital economy – across sectors such as financial services, consumer, healthcare, education and industrial development.

Tan Su Shan,