ICHX Tech Pte. Ltd.

ICHX Tech Pte. Ltd. , based in Singapore, operates ADDX, an innovative platform facilitating access to private market investments and alternative assets for accredited investors, enhancing portfolio diversification opportunities. Founded in 2017, ICHX Tech Pte.

Ltd. is the parent company of ADDX, which specializes in enabling private market investments. The firm has successfully closed 5 deals, with the most recent occurring on October 20, 2022, when it raised USD 86. 10 mn in Series D funding from investors including Hamilton Lane, KB Securities, Krungsri Finnovate, Stock Exchange of Thailand, and United Overseas Bank.

The company is co-founded by Inmoo Hwang and Yi Zhang, with Danny Toe serving as CEO. To date, the firm has achieved a total amount raised of USD 86. 10 mn and holds a current company valuation of USD 421. 82 mn.

ADDX specializes in providing access to private market investments and alternative assets, primarily targeting accredited investors seeking to diversify their portfolios. The company's core offerings include private equity, private credit, hedge funds, and commercial papers, designed to deliver target annual returns ranging from 8% to 20% per annum, with income distributions up to 11%. With a minimum entry amount as low as USD 5,000, ADDX caters to a diverse client base of individual and institutional investors, facilitating transactions across various geographical markets, particularly in Asia. The company's commitment to transparency includes a one-time subscription fee structure, ensuring that investors are fully aware of costs before completing transactions.

In 2023, ADDX generated revenue amounting to USD 650,337. 90, with an EBITDA of -USD 17,525,179. The company primarily earns revenue through its investment services, utilizing a straightforward fee structure that charges clients a one-time, non-recurring subscription fee for each investment made on the platform. This B2C model enables individual investors to directly purchase offerings from ADDX, with flagship services such as private equity and private credit driving revenue generation.

In October 2022, ICHX Tech Pte. Ltd. raised USD 86. 10 mn in Series D funding aimed at scaling its operations throughout the region, with the objective of establishing itself as Asia’s largest private market exchange.

The company plans to leverage this funding to expand its product offerings and enter new markets, with a focus on increasing its reach across Asia and beyond.