Regulations for Venture Capital Fund Managers (VCFMs)

What are the ongoing requirements for Venture Capital Fund Managers (VCFMs)?

"All VCFMs should meet the following requirements at all times:

(a) Fit and proper;
(b) Incorporated in Singapore – have a permanent physical office in Singapore;
(c) Key personnel – Have at least two directors, at least one of whom should be full-time and resident in Singapore; and at least two full-time resident professionals and representatives, who may include the directors;
(d) Disclose to investors that a VCFM is not subject to all of the regulatory requirements that are imposed on other fund management companies.
(e) Avoid any conflicts of interests;
(f) AML/CFT Requirements; and
(g) Submit the relevant periodic regulatory returns."

Source: Deloitte & Touche LLP, last revised on 15 September 2021