ADDX plans to enter Middle East, North Africa
Tay Peck Gek
PRIVATE market exchange ADDX is looking to expand its geographical footprint to the Middle East and North Africa.
In a press statement on Wednesday (Sep 13), the Singapore-headquartered fintech company said its foray into those regions aims to bring about more financial opportunities for unlisted enterprises such as micro, small and medium enterprises and startups.
The blockchain-enabled investment platform will expand access to strategic growth capital for pre-initial public offering companies not only from local financial institutions and investment funds, but also from funds across Asia and key financial markets globally.
Also, it will open up new investment opportunities in high-growth companies across Asia for local fund managers while offering potential to increase two-way, cross-market investment between Asia-Pacific, and the Middle East and North Africa.
The ADDX private market investment and trading platform is backed by global financial institutions spanning traditional financial exchanges, national banks and asset managers, which are leveraging the platform to get access to early-stage, high-growth private companies.
ADDX has raised a total of US$140 million in funding since its inception in 2017 from institutions including the Singapore Exchange, the Stock Exchange of Thailand, Temasek subsidiary Heliconia Capital, the Development Bank of Japan, UOB, Hamilton Lane, Tokai Tokyo Financial Holdings and KB Securities, a subsidiary of Korea’s largest banking group KB Financial Group.
Accredited individual investors using the ADDX platform currently come from 39 countries.
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