ADDX appeals to Thai investors – Fund Selector Asia

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Oi-Yee Choo, ADDX

ADDX raised $58 million in a pre-Series B funding round that saw several financial institutions become new shareholders: SET Venture Holding, a subsidiary of SET, UOB, Hamilton Lane and Krungsri Finnovate, the arm of corporate venture capital from Krungsri (Bank of Ayudhya).

The funds will enable the Singapore-based digital stock exchange to expand its operations and the new shareholders will also partner with ADDX on specific projects that will help the exchange expand into new business areas, geographies or segments. market, according to ADDX.

Several ADDX strategic initiatives are also expected to benefit from fresh capital injections, including the recent launch of private market services for wealth managers called ADDX Advantage, efforts to onboard general partners as issuers, as well as as product innovations aimed at bridging traditional and digital finance.

“SET is the second exchange to join as an investor after Singapore Exchange (SGX), and this is part of a larger global trend over the past two years of exchanges joining forces in a new market landscape for capital that emphasizes continuity between the public and private markets,” said Oi-Yee Choo, CEO of ADDX.

“The support from UOB and Krungsri, as well as private markets investment firm Hamilton Lane, underscores the trust we have built among important players in the ecosystem,” she added.

SET and UOB join existing shareholders, which include: SGX, Temasek-owned Heliconia Capital, Development Bank of Japan, Japan Investment Corporation, Tokai Tokyo, Kiatnakin Phatra and Hanwha Asset Management.

Digital titles

ADDX is regulated by the Monetary Authority of Singapore (MAS) as a digital stock exchange.

The fintech company uses blockchain and smart contract technology to tokenize and fractionate private market opportunities such as pre-IPO stocks, private stocks and hedge funds, as well as bonds, reducing the minimum size of investments from $1 million to $10,000. The resulting efficiencies attempt to bring the benefits of investing in private markets to individuals, while lowering the cost and threshold of fundraising for issuers.

“Partnering with ADDX complements our presence in our home region of Southeast Asia and Greater China. Our corporate clients will be able to tap into new fundraising channels, while our accredited investor clients will have access to alternative investments in tokenized assets,” said Leong Yung Chee, Head of Group Corporate Banking, UOB.

ADDX is owned and operated by ICHX Tech, which has been approved by MAS as a Recognized Market Operator. It also has a capital markets services license to trade in securities and collective investment schemes as well as to provide custody services.

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