Baring Asia makes Series A software investment
Monday, May 16, 2022
(AVCJ by Tim Burroughs) – Baring Private Equity Asia (BPEA) has committed USD 10m in Series A funding for a significant minority stake in CBX Software, a Hong Kongfounded product lifecycle management platform provider.
The intention is to support CBX through the next stage of its growth, characterised by geographic expansion, strategic acquisitions, notably in the technology-enabled retail supply chain space, and product development efforts focused on entering new industry segments.
The company has not previously taken institutional investment; its founders will remain in control following BPEA’s arrival, according to a statement. No indication was given as to whether the private equity firm, which typically makes equity commitments far larger than USD 10m, will make additional investments in CBX.
