Private capital platform CapBridge signed a deal with United Overseas Bank to offer a range of private capital solutions to fast-growing and privately-held companies in Singapore and in the region.
The maiden collaboration between CapBridge and UOB will provide companies with alternative financing solutions via CapBridge's investment syndication platform, while matching United Overseas Bank's (UOB) clients with anchor investors and accredited co-investors.
«With our capital market expertise and through our collaboration with CapBridge and the 1X platform, we can offer our clients an even wider range of alternative private financing solutions to provide them with sustainable growth capital,» said Edmund Leong, UOB's head of group investment banking in a media statement on Sunday.
Growing Source of Capital
Last November, CapBridge announced that it has received approval from the Monetary Authority of Singapore (MAS) for its associated entity, CapBridge Platform to operate a securities exchange known as 1exchange (“1X”) as a Recognised Market Operator (RMO) in Singapore.
Johnson Chen, CapBridge's founder and chief executive, noted that the private capital market is a fast-growing and stable source of primary and secondary capital for many companies.
Potentially Higher Liquidity
«The CapBridge platform offers a value-adding stakeholder network in the form of sophisticated investors, as well as higher liquidity and exit potential from the tradeable private equities pioneered by the 1X private securities exchange,» said Chen.
CapBridge recently completed a fundraising campaign for Singapore-based fund management firm Aggregate Asset Management, for a listing on 1exchange. The firm is set to become the first private company to list its shares on a private exchange in Singapore in July 2019.
