Singapore based investment crowdfunding platform Fundnel has announced the expansion of its services into Australia.
Fundnel is a private investment platform that offers unlisted securities in growth and pre-IPO stage companies to both institutional and individual investors. Fundnel screens all investment opportunities to ensure businesses meet the minimum requirements defined by the “Fundnel Factor” before the offer is listed on the platform. While headquartered in Singapore, Fundnel is a pan-Asian platform with regional offices in Indonesia, Malaysia, India and now Australia.
Fundnel has enlised the former CapBridge CEO, Dr. Steven Fang, to ramp up its business presence with the new Australian operations. Fang, now Managing Partner of Fundnel Australia, brings over 28 years of experience in the private and public investment sectors. He will be supported by a local team of business development specialists and core members of the Fundnel team.
Fundnel described the expansion into Australia as an initiative to explore potential investment opportunities in a country that has traditionally utilised less venture capital money. Its operations will be based in Adelaide, working in conjunction with the University of Adelaide’s ThincLab incubator, HealthSA, TechinSA and InvestSA. With its base in Adelaide, Fundnel said it will be building its presence in other key cities to include Sydney, Melbourne and Perth. Fundnel said it will be working alongside multiple state-backed initiatives to keep local businesses competitive on a local and subsequently global scale.
Fundnel’s platform in Australia will connect accredited Australian investors with local opportunities, and will in turn help local businesses accelerate their growth through capital raising.
“I’m excited to be on board with Fundnel, and to have the opportunity to work with the company’s well-calibrated and focused team,” said Dr. Fang. “Fundnel has already experienced success in Singapore, India and Indonesia, and Australia will be no exception. It is already regarded as one of the leading innovation hubs in the region. I look forward to spearheading Fundnel’s efforts there to help professional and institutional investors diversify their portfolios with a new asset class, while empowering local companies grow and succeed.”
Kelvin Lee, co-founder and CEO of Fundnel, said that Australian investors typically prefer domestic investment opportunities. Investors are keen to support local firms, a sentiment that aligns closely to Fundnel’s mission.
“With a great track record in private investments and fundraising, Steven is perfect to lead our efforts in Australia. Even at this early stage, we have already commenced groundwork on three pilot deals, and we expect many more successes in a strong pipeline that the team has worked hard to build,” stated Lee.
Fundnel said it will be working on buy and sell side syndication efforts to facilitate Australian investments into local businesses to re-invigorate the private markets. Fundnel Australia will be using algorithm-based deal processes to on-board companies for assessment, and then gated data rooms for investors to assess potential private investment opportunities.
“Fundnel is an exceptional venture, and its presence in Adelaide will help support local entrepreneurs financially, while also unearthing other Fintech ventures in Adelaide,” said Noel Lindsay, Professor of Entrepreneurship and Commercialisation, Pro Vice Chancellor, (Entrepreneurship), Director of Entrepreneurship, Commercialisation and Innovation Centre, The University of Adelaide Australia.