HSBC Asset Management (AM) has announced the final close of its Vision Venture Capital (VC) 2024 and Vision Private Equity (PE) 2025 strategies following “strong demand” from institutional investors and private banking clients.

The strategies’ commitments totalled $192.8m for Vision VC and $276.2m for Vision PE.

Vision VC, which was launched in November 2024 as part of HSBC AM’s expanding alternatives platform, achieved its final close following a first close of $143.9m.

The strategy looks to focus on diversified VC and growth portfolio built on primary, secondary, and co-investment deals.

Spanning the full VC lifecycle, it places emphasis on ‘high-impact’ areas, such as AI, deep tech, next-gen software, healthcare and life sciences, and fintech, alongside a geographic focus predominantly on the US, as well as Europe and Asia.

Vision VC has deployed capital into VC managers including General Catalyst, Lightspeed, Phoenix Court (Local Globe), SignalFire, and Series X Capital, and partnered with Lightspeed for a co-investment and with Lakestar on a secondary transaction.

Meanwhile, Vision PE held its first close in March 2025 and marks the seventh edition of the annual PE programme that has raised $2.6bn across all vintages to date.

The Vision PE programme provides access to global core buyout funds, alongside high-conviction thematic investments in sectors such as US mid-market, healthcare and technology, while also spanning primary, secondary and co-investment transactions.

The strategy seeks to offer globally diversified exposure across the PE landscape, sourcing opportunities through HSBC AM’s network of general partners and supported by multiple streams of capital.

“We’re delighted with the positive response to Vision VC, which shows there is real appetite for more distinctive ways for investors to access VC,” said HSBC AM head of alternative solutions, William Benjamin.

“Our clients are increasingly aware that start-ups, and even more mature businesses, want to stay private for longer – so this strategy is the way for them to access some of these innovative businesses that are typically hard to reach.

“What makes Vision VC stand out is the strength of our relationships in the VC community and across HSBC’s global network, particularly through HSBC Innovation Banking.

“Given recent market volatility, the response to Vision PE has been equally encouraging. Clients are increasingly viewing it as a core component of their PE allocation due to attractive valuations, robust deal flow, and the potential for outperformance as markets stabilise.

“They value the high-quality access it provides to established, exclusive and otherwise hard-to-access managers, as well as the strategy’s disciplined and global approach.”

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