SGX and Clearbridge Accelerator in JV to plug funding gap
By Digital News Asia January 26, 2015
- JV company to develop regional capital-raising platform for entrepreneurs, SMEs
- To also identify and form strategic equity partnerships with industry stakeholders
THE Singapore Exchange (SGX) said it has signed a Memorandum of Understanding (MoU) with Clearbridge Accelerator Pte Ltd (CBA), a venture capital and incubation firm specialising in early-stage investments.
Under the MoU, SGX and CBA propose to form a joint-venture (JV) company to develop a fundraising platform which aims to address financing gaps faced by SMEs (small and medium enterprises) and entrepreneurs.
It would do this by providing transparency and more efficient access among the investing community, the two parties said in a statement.
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, SGX and CBA said.
The JV 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, they added.
“We are excited about this opportunity to work with Clearbridge Accelerator to help companies access capital more easily and become a pan-Asian platform to support equity crowdfunding,” said Mohamed Nasser Ismail, head of SME Development & Listings at SGX.
“SGX has a long history of supporting entrepreneurs: Our Catalist board is a much sought-after avenue for SMEs to raise funds.
“This new platform will not only expand our suite of fundraising services but also enable us to support entrepreneurs and SMEs at every stage of their growth,” he added.
Launched in early 2010, CBA invests in healthcare, infosecurity and technology companies. Supported by the National Research Foundation’s Technology Incubation Scheme, it provides funding, mentorship, operational and execution discipline.
“This joint venture with SGX represents the next step in Clearbridge Accelerator's objective of supporting visionary entrepreneurs in Singapore to raise the necessary capital and grow their companies to a higher level,” said CBA managing partner Johnson Chen.
“We look forward to providing expertise in early-stage investments, mentoring and accelerating new ventures, as well as our extensive local and regional networks within the startup ecosystem, investor community and relevant government agencies,” he added.
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