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 Malaysia Sun 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 Malaysia Sun.
More Information(250711) -- KUALA LUMPUR, July 11, 2025 (Xinhua) -- Malaysian Prime Minister Anwar Ibrahim meets with Chinese Foreign Minister Wang...
(250711) -- YONGIN, July 11, 2025 (Xinhua) -- Head coach Ashley Westwood of China's Hong Kong reacts during the men's match between...
Bali [Indonesia], July 11 (ANI): India and Indonesia recently concluded the 11th edition of the Army Staff talks in Bali on Thursday....
Ranchi (Jharkhand) [India] July 11 (ANI): The Indian Coast Guard has launched a nationwide awareness campaign from July 14 to July...
Kathmandu [Nepal], July 11 (ANI): The Indian Embassy in Kathmandu has announced facilitation for three cricket players from Nepali...
London [UK], July 11 (ANI): World best Jasprit Bumrah breezed past the legendary Kapil Dev to break the record for most five-wicket...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...