Carey Olsen and Suntera Global (Suntera) have supported TNT Global Capital Pte. Ltd (TNT), a Singapore regulated asset management firm, on the launch of its latest fintech-focused fund, Volcano Investment Limited (Volcano Investment).
Established as a Jersey Private Fund (JPF), Volcano Investment recently held its first close and has a fundraising target of US$100 million.
The fund's objective is to build a diversified portfolio of high growth potential companies (both early and late stage) across a range of sectors, including those involving disruptive technology such as decentralised finance technology, robotics, electric vehicles, information storage, fintech, and blockchain technology. It will invest globally, but with an emphasis on the Asia-Pacific region.
Working alongside onshore counsel McDermott Will & Emery, the Carey Olsen team advising on the structuring, establishment and regulatory aspects of the fund's launch under the JPF regime was led by Jersey corporate partner Chris Griffin. He was assisted by senior associate Sophie Hancock and associate Rachael Barber from Jersey, and Singapore-based associate Eng How Cheow.
Chris said: "It was a pleasure to work with TNT on its first Jersey Private Fund launch. The fact that TNT chose to structure the fund through Jersey also reinforces the attractiveness of the jurisdiction as a centre for private equity, particularly when combined with the flexibility of the Jersey Private Fund regime."
Suntera's fund services division is acting as designated service provider to Volcano Investment, providing a broad range of administration and regulatory compliance services to the fund, both at launch and on an ongoing basis.
Ryan Taylor, Head of Funds at Suntera in Jersey, commented: "Having obtained our fund administration licence in Jersey last year, we’re continuing to see ongoing interest both in our capabilities and in Jersey as a specialist destination for fund structuring. It’s particularly pleasing to be supporting a Singapore-regulated manager, reflecting the global reach of Jersey’s funds sector, and even more so one working in the dynamic fintech and disruptive technology space.”
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