CapBridge raises Series A extension round from SGInnovate, Cyberport Macro Fund

A man carrying an umbrella walks along the Jubilee Bridge in front of the city skyline in Singapore. Photographer: Nicky Loh/Bloomberg

SGX-backed private capital raising platform CapBridge has raised around $2 million for its Series A extension round from SGInnovate and Hong Kong Cyberport Macro Fund, according to sources close to the development.

CapBridge is valued at over $40 million after the funding, as it did after its $4-million fundraise from Hanwha Investment in September 2019. The extension round brings the total capital raised in the Series A round to around $6 million and is understood to be fully closed.

CapBridge declined to verify the figures obtained by DealStreetAsia but confirmed in a statement that a Series A extension round was recently raised by the company.

Founded in 2015, CapBridge offers over $2 billion of deals across primary and secondary options on its platform. It holds a Capital Markets Services Licence through its primary online syndication platform, and the Recognised Market Operator licence through Singapore’s first regulated private securities exchange, 1exchange or 1X.

According to a statement, CapBridge intends to tap on the network of SGInnovate to access deep tech and blockchain technologies, and Hong Kong Cyberport Macro Fund to penetrate Hong Kong, one of the Asia Pacific’s most important financial markets.

CapBridge has made a number of strategic deals in recent months including with South Korea’s Hanwha Investment & Securities and Singapore’s United Overseas Bank (UOB) to widen its client base in South Korea and Southeast Asia respectively.

Johnson Chen, founder and CEO of Cambridge, said: “We are very encouraged by the confidence in CapBridge demonstrated through the investments from SGInnovate and the Cyberport Macro Fund. The global economy has been severely impacted by the coronavirus pandemic, creating unprecedented challenges for many companies seeking growth capital.”

Singapore has seen a number of private capital raising platforms emerge in recent months. CapBridge competes with the likes of iSTOX and Fundnel, both of which offer similar primary and secondary trading options on their platforms.

MarketX, a private investment platform with offices in San Francisco, Shanghai and Beijing, was reported to have conducted a “soft launch” in Singapore and has applied for the Monetary Authority of Singapore’s (MAS) license to operate in the country.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.