Regulations for Venture Capital Fund Managers (VCFMs)

How are Venture Capital Fund Managers (VCFMs) regulated?

  • According to MAS (Guidelines)
    last revised on 1 March 2022

    7.2 Admission & Ongoing Requirements – A VCFM needs to hold a CMS licence for fund management. All VCFMs are exempt from the specified provisions, as stated in regulation 14(5) of the SF(LCB)R8, and Part III of the SF(FMR)R (collectively, the “specified requirements”). Apart from these exemptions, and unless otherwise specified, VCFMs should meet the requirements that apply to fund management companies...

    8 The “specified provisions” refer to (a) Division 2 of Part 9 of the SFA; (b) Divisions 2 and 3 of Part 5 of the SFA; (c) sections 96 and 97A to 97I of the SFA; (d) Parts III, IV and V of the SF(LCB)R; and (e) regulations 3A, 3B, 3C, 4, 4A, 5, 9A, 11B, 12, 13, 13A, 13B and 13C of the SF(LCB)R.