[HONG KONG, August 2, 2023] Micro Connect today announced it has completed a capital raise of US$458 million in its Series C funding round, with broad-based participation from a diverse group of new and existing investors from Europe, North America, the Middle East, and Greater China, including leading long-only investment managers, private equity and venture funds, university endowments, internet platforms, and consumer retail groups.
Micro Connect (Macao) Financial Assets Exchange (MCEX), the first licensed global exchange for DROs and related products, is slated to launch in August 2023. The strong shareholder base and the new capital raised will support Micro Connect’s effort to enhance MCEX’s market structure and develop the world’s largest financial market for micro and small business investing.
Goldman Sachs served as financial advisor on the transaction. Freshfields Bruckhaus Deringer served as legal advisor.
About Micro Connect
Micro Connect is an exchange group that has leveraged financial technology to connect global capital with China’s micro and small businesses. Through its innovative revenue sharing investment and financing model, stores in the sectors of Food & Beverage, Retail, Services, and Culture & Sports can raise convenient and affordable long-term capital by listing on the Micro Connect (Macao) Financial Assets Exchange (MCEX), the world’s first exchange to trade revenue shares. The group’s proprietary revenue sharing asset class, Daily Revenue Obligations (DROs), gives investors direct and diversified exposure to the daily and transparent cash flows of millions of stores in China’s vibrant consumer economy, while making capital more accessible and affordable to business owners. With a fund platform, structured product solutions, and a licensed exchange, Micro Connect offers efficiency and liquidity in small business investing for global professional investors and a new alternative to impact investing.