General Announcement::SGX partners Clearbridge Accelerator to facilitate fund raising for entrepreneurs and SMEs

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Jan-2015 08:11:03
Status
New
Announcement Sub Title
SGX partners Clearbridge Accelerator to facilitate fund raising for entrepreneurs and SMEs
Announcement Reference
SG150126OTHREUBI
Submitted By (Co./ Ind. Name)
Patricia Choo
Designation
Vice President
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) is partnering Clearbridge Accelerator Pte Ltd (CBA) to develop a capital-raising platform for entrepreneurs and small and medium-sized enterprises (SMEs) in Asia.

SGX has signed a Memorandum of Understanding with CBA, one of Singapore s leading venture capital and incubation firms specialising in early-stage investments. Under the MOU, SGX and CBA propose to form a joint-venture (JV) company to develop the fund-raising platform, which aims to address financing gaps SMEs and entrepreneurs face by providing transparency and more efficient access among the investing community.

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. It 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.

Mohamed Nasser Ismail, Head of SME Development & Listings, said, 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. 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 fund-raising services but also enable us to support entrepreneurs and SMEs at every stage of their growth.

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. 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 start-up ecosystem, investor community and relevant government agencies. Clearbridge Accelerator will work closely with SGX to grow this into a premier capital-raising platform for entrepreneurs and SMEs in Singapore and the region," said Johnson Chen, Managing Partner, Clearbridge Accelerator.

Edwin Chow, Executive Director, Innovation & Start-ups Group, SPRING Singapore, said, SPRING Singapore works closely with our partners in strengthening our pro-enterprise environment. The presence of a robust financing landscape and an active involvement from the private investor community complements our efforts in helping our innovative and resilient local enterprises. With the development of such a platform, we hope to interest more investors to consider the value proposition of our local enterprises. We look forward to more such avenues to give our start-ups and SMEs a boost in their growth journey.

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Attachments

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