AMTD Digital has recently announced that it will obtain a majority stake in CapBridge Financial, a private capital platform, for an undisclosed sum.
The deal will help both AMTD and CapBridge expand the platform for digital assets exchange, targeting Singapore as a hub for key operations and growth. It will also enable AMTD to tap CapBridge’s private market & digital assets exchange knowledge. The private capital platform can also obtain AMTD’s digital solutions and connectivity platform strength.
Furthermore, the partnership will enable CapBridge to develop the digital asset space and global private markets, by uniting knowledge of private capital markets and financial technology including robo-advisory and blockchain.
CapBridge holds the licenses for Capital Markets Services via the primary online syndication platform and Recognized Market Operator via the blockchain-based 1exchange in Singapore. With a majority stake in CapBridge, AMTD Group’s integrated digital arm has stated that it will be committed to developing an Asian fintech platform in Singapore. It will allow the company to expand its services across Southeast Asia, connect to ASEAN markets, the Greater Bay Area & the rest of China.
The transaction is subject to the MAS (Monetary Authority of Singapore) approval and closing conditions. AMTD is planning to strengthen the investor servicing capability, customer acquisition, product innovation, deal sourcing, and R&D capabilities of CapBridge. This will be supported by AMTD International, the investment banking & asset management arm of AMTD Group.
According to CEO & chairman of AMTD Group, Calvin Choi, its resource network, credentials, and broad experience across various economy sectors will offer high support to CapBridge. This will enable the company to continuously grow, inject fresh momentum to Hong Kong, Singapore, and other asset sectors in Singapore. This will, in turn, aid its strategy to serve Asian corporates and offer value chain solutions that cover all types of financing needs.
CapBridge’s CEO & founder, Johnson Chen, has stated that the ongoing COVID-19 pandemic has shed more light on the importance of interconnectivity and digital facilitation to access the institutional-grade opportunities.