RF Fund Management awarded Registered Fund Management Company Status
Singapore's RF Fund Management, a subsidiary of RF International Holdings, has revealed that the Monetary Authority of Singapore (MAS) has approved its application for the commencement of business as a Registered Fund Management Company.
The announcement of the award paves the way for RF Fund Management to pursue their inaugural USD50 million Private Equity Fund, according to a press release. With a strong focus on the Digital Economy, the fund will support the enhancement of Singapore's value as an international fund management centre under the recently launched MAS Variable Capital Companies (VCC) framework.
Eric Neo Say Wei, Group Chief Executive, RF International Holdings, and Non-Executive Director, RF Fund Management, said “Our vision is creating sustainable, cross-border wealth and opportunity for all. Through our Private Equity Fund, we shall deploy our innovative modelling strategy, geared towards high capital appreciation, to identify, curate, and invest in select SMEs and start-ups. Helping them and our investors realise their full potential in line with the Singapore Budget 2020.”
The Singapore Ministry of Finance (MoF) has set aside SNG8.3 billion over the next three years to enable transformation and growth. In addition, another SNG300 million has been set aside to support start-ups in the deep-tech sector alone, through the Government scheme, Start-up SG Equity.
What we see from the MoF is that the focus is the future. In 'Redefining the Future' with our aspiration of adopting Blockchain technologies within our fund management operations such as Distributed Ledger Technology and Smart Contracts, we aim to set a benchmark for the industry in Singapore,” added Eric.
Singapore is home to around 3,800 technology start-ups. "However, many technology start-ups run into difficulty when it comes to sourcing strategic investors. We need to get them to that next stage of growth, but it needs to be in a trusted, flexible and sustainable way," commented Eric.
Leading by example, RF Fund Management's parent company, RF International Holdings, has supported Singapore's digital start-up ecosystem, beyond just money and capital. An early investor in iSTOX established and operated by ICHX Tech regulated by MAS, RF International Holdings strategically invested USD3 million on 18th April 2019 and was the third ICHX's external shareholder after Singapore Exchange and Heliconia Capital, a unit of Temasek.
Eric stated “We are involved in each stage of growth. From new acquisitions and market penetration, whether it be China, Japan, Singapore or other ASEAN nations, to advocacy and higher price realization, our unique ecosystem enables select SMEs and start-ups to get their ideas off the ground through investments, mentorship, and leveraging the digital economy. We invite all like-minded investors to join us in fuelling the growth of these select SMEs and start-ups.”
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