PR Newswire
31 Aug 2023, 12:09 GMT+10
DUBAI, UAE, Aug. 31, 2023 /PRNewswire/ -- Dalma Capital, a global alternative investment management platform and advisor, announced today it advised Philippine fintech startup Salmon on a US$20 million debt financing deal, the largest such financing for a Series A company from the Philippines.
The debt transaction, backed by emerging-markets specialist investment firm Argentem Creek Partners, is also the largest of its kind in Southeast Asia in a year. The financing will allow the credit-led fintech firm to further scale its lending operations across the Philippines.
The transaction was completed despite volatility in the credit markets.
"Credit market volatility and the demise of certain traditional lenders to growth stage tech companies has created a vacuum in the marketplace, which alternative credit funds appear selectively prepared to fill," said Mr. John Porter, Managing Director at Dalma Capital, who led the team that advised on the transaction.
"In addition, while in the past many Southeast Asian deals were being funded from Singapore and Hong Kong, we are seeing a lot more interest from investors in the Middle East and the West, which is a break with precedent," Mr. Porter added.
Separately, Salmon has also secured financial backing from other influential investors. Notably, DisruptAD (Abu Dhabi sovereign wealth fund ADQ's venture platform) is among the firm's key supporters.
About Dalma Capital:
Dalma Capital Management Limited is a global alternative investment management platform and advisor with strong capabilities in investment banking advisory and fund management services. Dalma Capital has established itself as a leading 'bulge boutique' investment banking advisory business in the Middle East, while operating an award-winning fund platform that offers portfolio managers access to top-tier operational, regulatory, legal, and technological infrastructure. It has also recently expanded into the outsourced chief investment officer space with the addition of The Global CIO Office to the group. Principally established in the Dubai International Financial Centre in 2013 by Mr. Zachary Cefaratti, Dalma Capital is authorized and supervised by the Dubai Financial Services Authority under a prudential category 3c license.
Get a daily dose of Vietnam Tribune news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vietnam Tribune.
More InformationWASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
The groups combined GDP is $20 trillion greater than that of the Western bloc, the Russian president has said BRICS has already outstripped...
The summit declaration denounced the recent terrorist attack in Kashmir that triggered a military escalation between India and Pakistan...
Prayagraj (Uttar Pradesh) [India], July 6 (ANI): Former Union Cabinet Minister and senior BJP leader Mukhtar Abbas Naqvi on Sunday...
Rio de Janeiro [Brazil], July 6 (ANI): Prime Minister Narendra Modi, during the 17th BRICS Summit on Sunday, asserted that condemning...
MOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...