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CapBridge names SGX's Chew Sutat as non-executive director; bags S$5m Series A funding
SINGAPORE-based startup CapBridge announced it has appointed Singapore Exchange's (SGX) Chew Sutat as a non-executive director.
Mr Chew is SGX's executive vice-president and head of equities and fixed income.
In addition, CapBridge also announced it recently bagged S$5 million in Series A funding in an "over-subscribed" round and on the back of strong investor demand.
Johnson Chen, CapBridge's founder and chief executive, said that Mr Chew brings "deep capital market experience" and will provide guidance for the company's continued growth.
"We will work closely with our board to continue bridging the funding gap for growth companies, and fulfilling the desire of private investors for exposure to growth equity," Mr Chen said.
Adding, Mr Chew said: “CapBridge smartly supports the capital needs of growth companies via an investment sharing process, leveraging on knowledgeable investors for each company."
"The SGX and CapBridge partnership forms a strong funding eco-system for these pre-IPO companies, so that they can focus on building tomorrow’s champions," he added.
Founded in 2015 in partnership with the SGX, CapBridge offers institutional and accredited investors private and exclusive access to venture capital financing and pre-IPO (initial public offering) placement deals, serving mid-to-late stage growth companies.
Apart from the SGX, CapBridge's investors include noted US venture capitalist Tim Draper.
In an earlier announcement in October 2017, CapBridge raised over S$4 million to enhance its online platform.