Singapore Exchange, Clearbridge form SME capital-raising platform

According to a release, the two parties will set up a joint-venture company to develop the platform and form an equity partnership with a financial institution that can operate it. Spring Singapore - an enterprise development agency - will also support the formation of the JV.

"This joint venture with SGX represents the next step in Clearbridge Accerator's objective of supporting visionary entrepreneurs in Singapore to raise the necessary capital and grow their companies to a higher level," said Johnson Chen, managing partner at Clearbridge Accelerator.

Set-up in 2010, Clearbridge backs start-ups in the healthcare, infosecurity and technology sectors. Its accelerator - which is backed by the National Research Foundation's Technology Incubation Scheme - provides funding, mentorship, and operational support. In 2012 it set up a subsidiary, Cambridge BSA, to manage a S$40 million fund that focuses on medical technology start-ups.

The tie-up is the latest in a string of initiatives intended to establish Singapore as a regional technology hub. Earlier this week it was revealed that start-up hub JTC LaunchPad @ one-north - better known to many as Block 71 - will expand to accommodate 500 companies and 35 incubators, with plans to create space for 250 more.

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• Topics
• Southeast Asia
• Early-stage
• Venture
• Singapore
• seed
• Venture
• Southeast Asia