CapForce Inc.

CapForce Inc.

Overview

CapForce Inc. (formerly OpGen, Inc.) repositioned between 2023 and 2025 from a precision-medicine company into a financial services and technology firm focused on capital markets advisory, cross-border trading, and fintech-enabled solutions. The company created CapForce International Holdings Ltd. as a wholly owned subsidiary to house new business lines, including CapForce International and iCapX-related activities.

Key corporate actions include a securities purchase involving David E. Lazar in March 2024; Lazar later sold a substantial stake and exited senior leadership between August and December 2024, after which AEI Capital Ltd. assumed control. In December 2025 CapForce acquired iCapX Sdn. Bhd. (Malaysia) via Sun Investment Enterprises Limited (holding company), giving CapForce ownership of iCapX’s cap table management and related platform services.

Market focus and offerings

• Capital market listing sponsorship and listing-readiness advisory for mid-sized, growth-stage private companies, primarily in Asia, targeting exchanges such as NYSE, NASDAQ, HKEX, SGX and TSE. Services include regulatory and governance preparation and cross-border regulatory alignment.
• iCapX cross-border securities trading platform: a global digital platform under development for cross-border trading across North America, Asia and other centers, supporting traditional securities and select regulated digital assets.
• Advanced model-enabled investment banking advisory and asset management: model-driven tools for deal strategy, capital structure, scenario analysis and portfolio construction for pre- and post-listing clients, with potential support for digital asset advisory.
• Fintech-enabled capital table management: cloud-based cap table solutions for private companies with ownership modeling, vesting, investor dashboards and governance controls, intended to integrate with CapForce’s broader ecosystem.

Customers and revenue

• In 2025–2026 CapForce is actively providing listing sponsorship and consulting services to a single client, with plans to expand its client base.
• The company reports that it has generated revenue since repositioning and is presenting net income in the current reporting period.
• A substantial portion of total revenue is derived from one client contract, creating concentration risk.

Operations and personnel

• Headquarters: Labuan, Malaysia, with virtual operations in the United States and Asia.
• Personnel (as of December 31, 2025): 3 full-time employees and 3 fractional consultants (6 total).

Ownership and governance

• AEI Capital Ltd. and affiliates held approximately 76.1% of CapForce’s outstanding common stock as of December 31, 2025, and have appointed multiple directors to the board, giving AEI substantial influence over governance and strategic direction.
• Corporate actions include a 1-for-10 reverse stock split on May 20, 2024, and a name and ticker change to CapForce Inc. (ticker: CFOR) with amendments filed in February 2026.

Intellectual property and regulatory focus

• Platforms rely on internally developed software, artificial intelligence models, data processing algorithms and APIs, protected by copyrights and trade secrets, with consideration of patent protection.
• Regulatory scope covers securities and capital markets rules across the U.S., Hong Kong, Singapore and Malaysia, and includes data privacy frameworks (GDPR, PDPA, PIPL), AML/KYC, cybersecurity and cross-border data transfer controls.
• The company emphasizes data governance, cybersecurity and third-party risk management and has outsourced IT governance and cyber risk management functions.

Strategy and business model

CapForce aims to combine sponsorship and advisory services, cross-border market access and fintech tools to guide mid-sized Asian private companies from pre-listing through liquidity events. The strategy centers on Asia-focused deal origination, partnerships with regional intermediaries, and an integrated, tech-enabled capital markets advisory and trading platform anchored by cap table management as an entry point to the ecosystem.