Private Capital Platform Gets Funding for Expansion
The Singapore Exchange-backed private markets platform and regulated securities exchange for private companies has received funding in its Series A extension round.
Capbridge Financial has received equity investments from SGInnovate – a Singapore government agency that helps entrepreneurial scientists build deep tech startups – and the Hong Kong government-owned Cyberport Macro Fund, the company announced in a statement on Thursday.
The funds will be used to accelerate the development of its technology solutions, and deploy blockchain technology to optimize share tracking, private equity investments, and securities trading settlements for private companies. It also hopes to further scale up its presence in Hong Kong, where it sees a growing interest in private markets among investors, Capbridge said.
Founded in 2015, Capbridge works with late-stage growth or pre-IPO private companies seeking growth or expansion capital, matching them with private capital. It also operates Singapore's first regulated private securities exchange, known as 1exchange (1X).
Difficulties in Raising Capital
«The global economy has been severely impacted by the coronavirus pandemic, creating unprecedented challenges for many companies seeking growth capital,» Johnson Chen, founder and CEO of CapBridge, said.
He added that the company is «committed to supporting the needs of these companies in an increasingly interconnected and digitalized global capital markets environment.»
