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RF Transformation Fund VCC unveiled for Singapore’s digital economy

RFThe Monetary Authority of Singapore (MAS) registered RF Fund Management, a subsidiary of RF International Holdings (a technologically-driven integrated digital financial group), has unveiled, following the approval of the MAS status that the Accounting and Corporate Regulatory Authority (ACRA) has confirmed its RF Transformation Fund VCC.

The incorporation paves the way for RF Fund Management to steadily pursue their inaugural US$50 million Private Equity Fund. With a strong focus on the Digital Economy, the umbrella VCC fund will support the enhancement of Singapore’s value as an international fund management centre under the recently launched MAS and ACRA VCC framework on January 15, 2020.

“We spent time understanding the services of many legal advisors, fund administrators, tax advisors and auditors before coming to a decision. We selected Dentons Rodyk & Davidson LLP, Intertrust Group, Ernst & Young Corporate Advisors Pte Ltd and Deloitte & Touche LLP for their attention to client needs and willingness to grow alongside RF Fund Management. We are pleased to partner with these leading global custodians that supports our advocacy with integrity in governance, compliance and that can help us navigate as one of the early adopter fund in the VCC programme,” said Eric Neo Say Wei, Group Chief Executive of RF International Holdings and Director of RF Transformation Fund VCC.

RF Fund Management’s parent company, RF International Holdings, is said to have supported Singapore’s digital startup ecosystem, beyond 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 April 18, 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 our RF Transformation Fund VCC in fuelling the growth of these select SMEs and startups,” said Vincent Lin H., Group Executive Chairman, RF International Holdings.

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