SINGAPORE, 16 OCTOBER 2017 – Singapore-based growth capital platform CapBridge Holdings Pte Ltd (Capbridge) today announced that it has strengthened its partnership with the Singapore Exchange (SGX) and raised new money from seasoned early stage investors.
SGX has, through its subsidiary Asian Gateway Investments Pte. Ltd. (AGI), signed an agreement to subscribe for a 10% equity stake in CapBridge Platform Pte. Ltd., a subsidiary of CapBridge which will operate its innovative online capital-raising platform. The agreement is subject to closing conditions.
Johnson Chen, chief executive of CapBridge, said, “CapBridge has seen steady success as an innovative capital raising platform for companies in the mid-to-late stage of growth. With this investment and our strategic partnership with SGX, we will strengthen ongoing efforts to simplify and equalise the fundraising process between growth companies and potential investors. We are heartened that SGX – Asia’s most international exchange – has seen fit to make this deeper commitment to our partnership, and we are excited to continue working with them to create a virtuous eco-system of capital flow.”
Mohamed Nasser Ismail, Senior Vice President and Head of Capital Market Development and Equity Capital Market (SME) at SGX, said, “CapBridge addresses the funding challenges growth companies face, and adds to the vibrancy of the capital markets here in Singapore. SGX is committed to supporting the development of the CapBridge online platform, and this partnership syncs well with our broader drive to ensure that every company, at each stage of their growth, has access to capital that is efficient, cost-effective and sustainable. We intend to leverage on CapBridge’s experience and together explore the feasibility of building on their platform to develop a fully integrated private market in Singapore.”
This financing round for CapBridge group was also supported by a select group of seasoned early stage investors, including US-based venture capitalist Timothy Draper.
Proceeds will go towards building multiple functions on the CapBridge platform for companies and investors to tap on, engage with, and exchange content between each other.
Through the CapBridge platform, companies will be able to effectively connect with smart money investors and manage strategic financing campaigns to raise growth capital – all within a secure, private and curated space. Institutional and accredited investors can participate in the growth funding of mid-to-late stage companies through an innovative, reliable and efficient online interface. Customised content sharing also offers co-investors and ultra high net worth investors on the platform the opportunity to connect with lead investors to improve on the efficiency of the capital investment
process. The collaborative nature of the platform will generate greater compatibility and diligence sharing among all partners involved in an investment.
In September 2017, US-based start-up Nautilus Data Technologies successfully raised US$25 million in a Series C preferred stock funding exercise via CapBridge. In a round led by a Palo Alto-based family office, the fundraising exercise saw strong participation from investors in the US, Europe, and Singapore. Investors included the Ireland Strategic Investment Fund and a unit of Singapore’s Keppel
Telecommunications & Transportation Ltd.