SGX in joint venture to launch equity crowdfunding platform for entrepreneurs and SMEs in Asia

SINGAPORE - The Singapore Exchange (SGX) announced on Monday (Jan 26) that it is partnering Clearbridge Accelerator Pte Ltd (CBA) to develop a capital-raising platform for entrepreneurs and small and medium-sized enterprises (SMEs) in Asia.

SGX has signed a memorandum of understanding with CBA, a Singapore venture capital and incubation firm specialising in early-stage investments. Under the MOU, SGX and CBA will form a joint-venture (JV) company to develop the fund-raising platform, which aims to address financing gaps SMEs and entrepreneurs face by providing transparency and more efficient access among the investing community.

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. 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.

Said Mohamed Nasser Ismail, head of SME Development & Listings" "This new platform will not only expand our suite of fund-raising services but also enable us to support entrepreneurs and SMEs at every stage of their growth."

Said Edwin Chow, executive director of the Innovation & Start-ups Group at SPRING Singapore: "With the development of such a platform, we hope to interest more investors to consider the value proposition of our local enterprises. We look forward to more such avenues to give our start-ups and SMEs a boost in their growth journey."