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ADDX Targets MENA's Burgeoning Private Market

The blockchain-enabled private market platform is set to grow two-way, cross-market investment between APAC and MENA countries.

Photo by Darcey Beau / Unsplash

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ADDX, a global private market exchange headquartered in Singapore, has unveiled plans to expand its blockchain-enabled private market exchange platform into the Gulf Cooperation Council (GCC) and broader MENA (Middle East/North Africa) territories.

This strategic move aims to bridge the existing financing chasm between private enterprises and capital providers, positioning ADDX at the forefront of the global financial evolution, the firm said in an announcement this week.

The MENA region, with its dynamic economic landscape, has been witnessing a surge in demand for strategic growth capital, especially from micro, small, and medium enterprises (MSMEs) and innovative startups. These enterprises are projected to play a transformative role in steering sustainable economic growth across the region. By introducing its platform, backed by an array of global financial titans, ADDX seeks to offer these enterprises a seamless avenue to access early-stage, high-growth private investment opportunities, blending state-of-the-art technology with stringent compliance standards.

ADDX said it aims to galvanize the growth of innovative enterprises pivotal to the region's sustainable economic diversification by facilitating capital influx, noting the region's focus on avant-garde sectors like artificial intelligence, Web 3.0, and green buildings.

Since its inception in 2017, ADDX has raised US$140 million in funding from institutions including the likes of the Singapore Exchange and Korea's KB Financial Group. With its expansion into the MENA market, ADDX wants to serve as a conduit for strategic growth capital, facilitating pre-IPO companies in the region to tap into both local and global financial reservoirs. Concurrently, this move is set to unlock a plethora of investment avenues in burgeoning Asian enterprises for MENA-based fund managers, further solidifying the economic nexus between the Asia-Pacific (APAC) and MENA domains.

Danny Toe, CEO of ADDX, shed light on the firm's vision, stating, "The MENA region is on the cusp of a financial renaissance, and we, at ADDX, are committed to fueling this transformation. By fostering a seamless flow of investment capital, we envision bolstering the growth trajectory of strategically vital MSMEs across the region, thereby redefining the region's financial topography."

Manuel Jaeger, ADDX's head of business development, further elaborated on the transformative potential of the move, emphasizing the role of blockchain in revolutionizing private market investing. He remarked, "Our overarching goal is to collaborate closely with the region's financial linchpins, regulators, and key stakeholders to cultivate an open capital flow ecosystem, ultimately catalyzing global economic growth."