08/08/2019 – Helicap announced on Wednesday the acquisition of securities firm Arcor Capital for an undisclosed amount.
Helicap is a Singapore-based fintech platform that provides alternative lending services in the Southeast Asia region. While Arcor Capital specializes in private debt securities and raising growth capital for early-stage and mid-market enterprises from institutional investors and family offices. Arcor Capital also holds a Capital Markets Services (CMS) license for dealing in securities from the Monetary Authority of Singapore (MAS).
“Helicap’s acquisition of Arcor Capital is a landmark moment for our 18-month startup,” said David Z. Wang, co-founder and CEO of Helicap. “The acquisition, together with Helicap Investments successfully obtaining registered fund management company status, enhances the group’s leading position in the alternative lending market and enables us to immediately ramp up our engagement with sophisticated investors via debt securities fundraising and credit fund management,” he added.
“We are excited to join the Helicap Group. As one of the first movers in the market, Helicap has established itself as a leader in alternative lending. Together with Helicap’s scale, resources and reputation, this provides us with an ideal platform for expanding our private debt business,” said Patrick Hong, co-founder and managing partner of Arcor Capital.
Following the acquisition, Arcor Capital will be joining Helicap Investments, the fund management subsidiary under Helicap Group, to source investment opportunities for accredited investors of the Asia-Pacific alternative lending market worth US$500 billion.
Hong, together with fellow co-founder and managing partner Rahul Khemka will retain their roles after the acquisition. Also staying as a senior adviser is co-founder Simon Ong.
The firm has invested in eight alternate lending platforms in Asia, including in Indonesia, Cambodia, and the Philippines so far. The company last raised a seed funding round of US$5M led by East Ventures and Soilbuild Group Holding.
The first fund from the company is expected to be launched in September, with a target AUM of US$144M.