The International Finance Corporation (IFC) is evaluating a senior debt investment of up to US$25 million in a Singapore-based private credit vehicle managed by Helicap.
According to DealStreetAsia, the capital would support a senior tranche of up to US$50 million issued by the Helicap Income Opportunities Fund.
The vehicle, a sub-fund of the Alternative Investments VCC, is overseen by Helicap Investments Pte. Ltd.
It provides senior secured private credit loans to non-bank financial institutions and fintech firms throughout Asia.
These intermediaries subsequently facilitate financing for MSMEs and other underserved borrowers.
The IFC intends to complement its financial commitment with advisory services to help Helicap refine its internal risk management and formalise its responsible lending practices.
The development finance institution noted that its participation would provide longer-tenor funding that is often difficult for fintech-focused debt vehicles in emerging markets to secure.
Helicap’s Funding and Credit Activity
Helicap was established in 2018 by David Z Wang, Quentin Vanoekel, and Jeremy Tan as a specialist in credit syndication and investment management.
The platform is backed by several institutional investors, including 33 Ventures, East Ventures, Saison Capital, and Voveo Capital.
Its most recent financing round was a 2024 Series B led by the Kenanga Group through a fund managed by Kenanga Investors.
This followed a US$5 million strategic raise in 2022 led by Tikehau Capital and PhillipCapital, alongside a US$10 million Series A in 2020.
Helicap remains an active deployer of debt capital in the region.
In September 2024, the firm announced a US$50 million credit facility for XenCapital, the lending arm of the Indonesian payments unicorn Xendit.
Featured image: Edited by Fintech News Singapore, based on image by Helicap