SGX gives S$1.5m grant to develop equity crowdfunding platform CapBridge

SGX and ClearBridge have set up a JV vehicle to launch ECF platform, CapBridge.

The Singapore Exchange (SGX) announced today that it will support the development of early-stage equity capital-raising platform CapBridge, through a S$1.5 million grant to Clearbridge Accelrator Pte Ltd over three years.

This follows a memorandum of understanding (MOU) signed by SGX and Clearbridge Accelerator in January this year to develop the equity crowdfunding platform targeted at for early-stage small and medium enterprises (SMEs).

CapBridge is expected to be operational by the second half of 2015, the statement from SGX said.

SGX head of SME development & listing Mohamed Nasser Ismail said: “There is a vibrant and sizeable start-up community in Singapore but challenges remain for them to secure financing especially in their early stages of development.

“SGX is well placed to support initiatives to improve access to equity for such enterprises as part of our efforts to provide efficient, cost-effective and sustainable access to capital for SMEs at every stage of their growth.”

SGX and CBA are also in discussions with several financial institutions as collaborators to develop demand by both enterprises and investors for the platform, the statement added.

In January, SGX signed the MOU with Clearbridge Accelerator, which proposed to form a joint venture (JV) company, aiming to address financing gaps SMEs and entrepreneurs face by providing transparency and more efficient access to the investing community.

Related story: SGX, VC firm launch equity crowdfunding joint venture

Clearbridge is one of Singapore’s leading venture capital and incubation firms specialising in early-stage investments.

The proposed JV will identify and form a strategic equity partnership with an experienced platform operator and industry stakeholders such as financial institutions to operate the new capital-raising platform, Clearbridge Accelerator’s statement from January noted.

It will also identify other partners and collaborators to create investor demand for the capital offerings on the platform. Enterprise development agency SPRING Singapore will play a supporting role in the formation of the JV, as part of its ongoing efforts to make the financing environment more conducive to SMEs and entrepreneurs.

Also read:

Malaysia’s Securities Commission allows 6 players to launch equity crowdfunding services

Tripartite alliance of CoAssets, FundedByMe & New Union advances Singapore’s crowdfunding space

Crowdfunding platforms Fundhere & Sniffr to launch in Singapore

Realty crowdfunding platform CoAssets gets S$1m Series A funding

New York-based Onevest launches Series A financing

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.