April 23, 2024

ADDX raises USD 58mn with the Stock Exchange of Thailand, UOB as Shareholders


Private market exchange ADDX has raised USD 58 million in a Pre-Series B funding round that witnessed numerous financial institutions come on board as new shareholders: SET Venture Holding, a subsidiary of the Stock Exchange of Thailand (SET), UOB, Hamilton Lane (NASDAQ: HLNE) and Krungsri Finnovate, the corporate venture capital arm of Krungsri (Bank of Ayudhya PCL).

Industry sources confirmed that since the firm’s inception in 2017, this latest investment has brought the overall net funds raised by ADDX to around US$120Mln. ADDX further stated that the New set of Investors joining existing shareholders on the ADDX cap table, like that of Singapore Exchange (SGX), Temasek-owned Heliconia Capital, Development Bank of Japan (DBJ), Japan Investment Corporation – Venture Growth Investments (JIC-VGI), Tokai Tokyo Financial Holdings, Kiatnakin Phatra Financial Group, and Hanwha Asset Management.

ADDX added that the funds will permit the firm to scale its operations as the firm entrenches its position as Asia’s largest private market exchange. The new shareholders will also partner with ADDX on specific projects that will help the exchange expand into new business areas, geographies, or market segments.

Numerous strategic initiatives by ADDX will also benefit from the fresh capital, comprised of the recent launch of private market services for wealth managers, dubbed ADDX Advantage, ongoing efforts to bring on board world-class general partners as issuers, as well as product innovations that will bridge the world of traditional finance and digital finance.

Oi-Yee Choo, CEO of ADDX

Oi-Yee Choo, CEO of ADDX, stated: “ADDX is on a mission to democratize the private markets. The sizeable investment from SET, UOB, Hamilton Lane, and Krungsri serves as a ringing endorsement for ADDX’s business model, the team we have assembled, and the broader vision we have for transforming the capital markets the wealth management industry. The new shareholders aren’t just capital partners, but strategic partners too. They have much to contribute in the form of expertise, ideas, market experience, and business networks, and ADDX looks forward to adding value to their businesses in return. This Pre-Series B round sets ADDX up strongly for long-term success.”

Ms. Choo further added: “SET is the second stock exchange to join as an investor after SGX, and this is part of a larger global trend over the past two years of exchanges joining forces in a new capital market landscape that emphasizes continuity between the public and private markets. The backing of UOB and Krungsri, as well as the private markets investment firm Hamilton Lane, underscores the confidence we have built among important players in the ecosystem.”

Pakorn Peetathawatchai, President of the Stock Exchange of Thailand, stated: “Joining hands with ADDX which is a multi-asset digitized securities investment platform regulated by MAS will contribute to the great development of digital assets in Thailand. We look forward to working with the ADDX team and we strongly believe that the collaboration will provide extensive experience, knowledge, and more opportunities to Thai capital markets’ stakeholders through the international digital capital markets platform.”

Mr. Leong Yung Chee, Head of Group Corporate Banking, UOB, stated: “The partnership with ADDX complements our footprint in our home region of Southeast Asia and Greater China. We are constantly looking for innovative solutions to further strengthen our product offerings, and the tie-up with ADDX will certainly help us to do so. Our corporate clients will be able to tap new fund-raising channels, while our accredited investor clients will gain access to alternative investments in tokenized assets. We look forward to a fruitful journey with ADDX.”

Erik Hirsch, Vice Chairman and Head of Strategic Initiatives at Hamilton Lane, stated: “The ADDX platform is delivering transformative technology to a broad array of individual investors seeking access to the private markets.  They are well-positioned in the digital securities space and Hamilton Lane is excited to have participated in this latest fundraise. This investment highlights our conviction around the attractive opportunity in providing private market investments to the non-institutional channel, expands our presence in Asia, and allows us to join some of the leading institutions in that region in support of ADDX.”

Mr. Sam Tanskul, Managing Director, Krungsri Finnovate Co., Ltd, stated: “ADDX has strong expertise as a global digital securities exchange, driven by blockchain and smart contract technology. This investment will further strengthen Krungsri’s ecosystem and partnerships, and significantly broaden investment opportunities for our high-net-worth customers as it offers enhanced access to private markets with a wide range of asset types such as private equity, and hedge funds, and bonds, which better serve the needs of customers today. We look forward to collaborating with ADDX to introduce new initiatives for Thailand’s investment community.”



Untitled design - 2023-03-10T105935
Yangzijiang Financial partners with ADDX for distribution of Group’s capital markets products
Hamilton and ADDX
Hamilton Lane partners ADDX to promote Asian Investors
ADDX Partners China Construction Bank on USD200m QDLP scheme
  • BYDFi


Illustrative image (Image by KamranAydinov on Freepik)
Arab Afro Digital Payment Exhibit, Symposium Awards
Mohammed Al Mahmood, Head of Sales at Diyar Al Muharraq, and Abdulraman Alkhan, Head of Cards & E-Channels at KFH – Bahrain. Image Courtesy-KFH – Bahrain
Beyon Money partners with Medical.BH to benefit customers