About Us

Who are we

Hg Exchange (HGX) is a private exchange formed by an alliance of leading financial intermediaries, individually licensed and regulated by the Monetary Authority of Singapore.

Our technology infrastructure is underpinned by advanced blockchain technology and proven exchange solutions to enable secure and efficient cross-border listing and trading of both digital and non-digital capital market products.

We open up access to private market opportunities — in private equity and venture capital funds, and high-growth companies — to a global network of 500,000 investors.

You can download our rulebook here

Redefining status quo

The very first stock exchange was founded in the 1900s. It was member-owned and self-regulated. Over time, it evolved to what we are familiar with today — stock exchanges are private entities driven by profit.

As a consortium-led private exchange, we take a bottom-up approach to build the Exchange of the Future. By uniting financial institutions, broker-dealers, corporate finance advisors, and other leading capital markets entities, HGX offers the most comprehensive network for buyers and sellers in the ecosystem.

Our mission is to create an equitable trading platform by bringing operational transparency, fair competition and cost-efficiency to the private capital markets.

Our Leadership

williechang
Willie Chang Chief Executive Officer

Willie Chang is the CEO of Hg Exchange. He has twenty years of experience spanning fintech, investment banking and management consulting.

He most recently built and launched Wowoo Exchange Singapore, where he also served as CEO. Previously, Willie was the Head of Strategic Planning and Business Development at Mizuho Securities in Singapore and also held management positions at Lehman Brothers and Deloitte Consulting.

He has an MBA with Honours from the Kellogg School of Management at Northwestern University.

bentwoon
Benjamin Twoon Director

Benjamin is the co-founder of Fundnel Group. Benjamin leads the Group’s Private Equity Investments division and is responsible for developing the Private Capital Markets and Fund Management capabilities for the group. Benjamin spearheaded the Group’s expansion into Indonesia in 2015 and oversees strategy formulation for regional expansion.

Benjamin was also integral in Fundnel’s founding membership of and serves as Director of Hg Exchange, Asia’s first member-driven licensed private exchange to support the issuance and trading of both digital and non-digital capital market products. With the Digital Exchange, the Group can support tokenisation and digital custody of alternative assets as an integrated and end-to-end solution.

Previously, Benjamin served as Independent Non-Executive Director of Shengye Capital, a specialised enterprise financial services provider in the People‘s Republic of China listed on the Hong Kong Exchange. Benjamin also served as Non-Executive Director of Anthill Capital Pte Ltd, a regional investment and incubation platform, as well as Y Ventures Group, a data-driven e-commerce company listed on the Singapore Exchange.

KhaiLinSng
Khai Lin Sng Director

Khai Lin Sng is the Co-founder of Fundnel Group. Fundnel Group is the largest licensed digital marketplace for alternative investments in Southeast Asia backed by Nomura Holdings (Japan), Philips Securities and Binance Asia.

Under her leadership, Fundnel Group has since expanded its footprint out of Singapore to Malaysia, Indonesia and India. In 2021, Fundnel was recognised by Financial Times as the 107th fastest growing company in Asia Pacific, Fintech of the Year by The Asset, and 21st fastest growing company in Singapore by The Straits Times. Khai Lin was also integral in Fundnel’s founding membership of Hg Exchange, Asia’s first member-driven licensed private exchange to support the issuance and trading of both digital and non-digital capital market products. With the Digital Exchange, the Group can support tokenisation and digital custody of alternative assets as an integrated and end-to-end solution.

In her role as Director of Hg Exchange, Khai Lin represents Fundnel’s commitment to increase access and liquidity in the private capital markets. She also serves as Vice-President of the Singapore Fintech Association. Prior to co-founding Fundnel, Khai Lin was an investment banker at JP Morgan, Citibank and CIMB-GK Securities.

gerald-ong
Gerald Ong Advisory Board Member

Gerald Ong Chong Keng is the Deputy Chairman and Executive Director of the PrimePartners Corporate Finance Group. He is also a Director of Metro Holdings (listed on the SGX-ST).

Mr Ong has more than 25 years of corporate finance-related experience. He has held senior positions at various financial institutions including NM Rothschilds & Sons (Singapore) Ltd, the DBS Bank Group, Tokyo-Mitsubishi International (Singapore) Pte Ltd and Hong Leong (Malaysia) Group.

Mr Ong has been recognised as an IBF Distinguished Fellow and sits as a member of various MAS-led committees. He is also a Council Member of the Singapore Institute of International Affairs (SIIA).

JuzarMotiwalla
Juzar Motiwalla Advisory Board Member

Juzar Motiwalla is a Co-Founder of high-performance and high-security blockchain platform Zilliqa.

He was a venture capitalist, focusing on technology investments in Silicon Valley and Asia. Previously, Juzar has spearheaded the development of several multi-year international R&D partnerships with Apple, IBM Ericsson and Johns Hopkins. Dr. Motiwalla has a PhD from the University of Wisconsin - Madison.

KelvinLee
Kelvin Lee Advisory Board Member

Kelvin is the Co-Founder and Chief Executive Officer of Fundnel Group. Fundnel Group is Southeast Asia’s largest marketplace for alternative assets. Kelvin is responsible for driving growth and strategic initiatives across the Group and under his leadership, the Group has achieved over USD12 billion in mandated transactions and has completed over USD590 million for private companies and funds to-date.

Kelvin played a key role in Fundnel’s founding membership and serves as an advisory board member of Hg Exchange, Asia’s first member-driven private exchange to support the issuance and trading of both digital and non-digital capital market products, licensed by the Monetary Authority of Singapore.

Prior to co-founding Fundnel, Kelvin was an investment banker at J.P. Morgan, covering clients in North and Southeast Asia, and had raised over USD20 billion for clients during his tenure. Prior to J.P. Morgan, he was with Standard Chartered working on leveraged and acquisition finance, balance sheet & capital structure optimisation, and other alternative structured capital raising solutions such as the securitisation of receivables and the provision of sale and leaseback structures. Kelvin is currently a member of the Singapore Business Federation's Young Business Leaders Network (YBLN) and Young Entrepreneurs Network (YEN).

LukeLim
Luke Lim Advisory Board Member

Luke Lim is part of the advisory board member of Hg Exchange.

As the Managing Director of Phillip Securities Pte Ltd (PSPL), Luke oversees PSPL's daily operational businesses, strategic directions and executes management decisions for performance-driven results in consultation with the board of directors. He He has held various roles within PhillipCapital Group of companies since 2004.

He co-founded Poems Venture and was appointed Deputy Chairman of Securities Association of Singapore (SAS) in 2015, where he provided stewardship and guidance to fellow members.

News Room

The story behind our name

Hg is the elemental symbol for Mercury.

Mercury is the sole metallic element that is liquid at standard conditions for temperature and pressure. It is utilised in thermometers for its trustworthiness and reliability – drawing a parallel to the fundamental ethos of the exchange.

Mercury also refers to the Roman deity who was the messenger to the gods – akin to the role of the exchange which bridges the gap between buyers and sellers to facilitate trade.

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