Singapore VC Raises Startup Debt Fund Amid Depressed Valuations.

Genesis Alternative Ventures, a private lender based in Singapore, has closed its second debt fund at $125 million, towards the lower end of its target range. The fund aims to provide financing to young companies across Southeast Asia, attracting new investors such as Mizuho Bank from Japan and OurCrowd Ltd from Israel. The global economic outlook has led to depressed valuations for tech companies, making it challenging for venture firms to raise capital. However, Genesis has already lent over $20 million to nine startups, including Aonic, Eezee Pte, and Akulaku Inc. [Extracted from the article]