CapBridge inks MoU with CIMB to offer SMEs capital-raising options, liquidity

INVESTMENT platform CapBridge has signed a Memorandum of Understanding (MoU) with CIMB to offer the bank's SME (Small and Medium Enterprise) and mid-corp clients access to new means of capital-raising.

In a press release on Sunday, CIMB said that the "wide-ranging" collaboration could help its clients in Malaysia, Singapore, Indonesia, Thailand and Cambodia access fresh capital via the CapBridge investment platform, a private-capital raising platform for growth-stage and pre-IPO companies.

Meanwhile, CIMB's clients could also consider a private listing on the private securities platform 1exchange (1X), an affiliate of CapBridge. Privately-held companies may list up to 30 per cent of their shares on 1X, where they can be traded by accredited investors. Both CapBridge and 1X are backed by the Singapore Exchange.

The partnership could help CIMB's SME and mid-corp clients that are "looking to raise capital and have part of their shares traded, while remaining private and in full control of their businesses", CIMB said in the press release.

"As the main banker for companies wishing to raise funding on CapBridge's platforms, CIMB is even better-positioned to help its SME and mid-corp customers access the capital they need to grow their business," said Victor Lee, CEO of group commercial banking at CIMB.

"In line with Forward23, CIMB's next mid-term growth plan, this collaboration with CapBridge also further strengthens our refocused SME proposition to help them grow through tech-driven end-to-end solutions, and by transforming our customer journey," he added.

Johnson Chen, founder and CEO of CapBridge, said that he looks forward to working with CIMB "to bring our innovative suite of private market capital services to even more growth companies in the Asean region".