ADDX appoints new CEO, aims to build Asia’s largest private market exchange by 2023

March 8, 2022

By Sharan Kaur Phillora

Singapore Exchange-backed private market platform ADDX has announced that Oi-Yee Choo will be appointed its Chief Executive Officer, subject to the Monetary Authority of Singapore’s (MAS) approval.

Here’s everything you need to know:

  • The ADDX platform was founded in 2017 and began full commercial operations in 2020 after becoming one of the first digital securities exchanges to graduate from the MAS Fintech Regulatory Sandbox.
  • Oi-Yee Choo has been working with ADDX as the Chief Commercial Officer for the last 2 years and projects that the ADDX platform will record US$1 billion in transactions by 2023, entrenching its position as Asia’s largest private market exchange.
  • To achieve its mission, the company is planning to expand its team from 90 to 120 individuals within this year. Most of the employees will be hired in the technology and product development departments.
  • “The end game is a much better world than the one we live in – truly diversified portfolios not just for sovereign wealth funds and pensions funds, but every person on the street. Barriers to capital flows will be reduced significantly, allowing funds to reach the worthiest projects. This generates innovation, economic growth, jobs and government revenue”, she said.
  • In her professional career of over two decades, Choo has worked with prominent global financial firms. She held senior roles at Morgan Stanley, UBS and Citigroup Investment Bank.
  • “We are building the Amazon of the private markets – the first stop investors think of when considering alternative investments because they know they will find here a full range of products with varying risk-reward profiles,” Ms Choo said.
  • The multi-asset exchange has onboarded funds, bonds and equities. Asset classes represented by-products on the platform include private equity and venture capital, private debt, real estate, hedge funds and crypto funds. The ADDX platform will onboard more global general partners (GPs) this year, after launching deals last year by blue-chip names such as Partners Group, UOB, Investcorp, Mapletree, Azalea, SeaTown and CGS-CIMB.

 


About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

 

 

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