Singapore’s RF Fund Management, a subsidiary of RF International Holdings, has unveiled that the Monetary Authority of Singapore (MAS) has approved its application for the commencement of business as a Registered Fund Management Company on 3rd February 2020.
The announcement of the award paves the way for RF Fund Management to pursue their inaugural US$50 million Private Equity Fund. 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.
“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 startups. Helping them and our investors realise their full potential in line with the Singapore Budget 2020,” said Eric Neo Say Wei, Group Chief Executive of RF International Holdings and Non-Executive Director of RF Fund Management.
The Singapore Ministry of Finance (MoF) has set aside S$8.3 billion over the next three years to enable transformation and growth. In addition, another S$300 million has been set aside to support startups in the deep-tech sector alone, through the Government scheme, Startup 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,” said Eric.
Singapore is home to around 3,800 technology startups. “However, many technology startups 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,” added Eric.
Leading by example, RF Fund Management’s parent company, RF International Holdings, has supported Singapore’s digital startup 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 US$3 million on 18th April 2019 and was the third ICHX’s external shareholder after Singapore Exchange and Heliconia Capital, a unit of Temasek.
“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 startups 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 startups,” Eric concluded
