The RF International subsidiary is launching a $50 million private equity fund that focuses on fintech and proptech investments in Asia.
RF Fund Management has received registered fund management company approval from MAS, and will be setting up its inaugural private equity fund under the new variable capital companies (VCC) framework, the firm announced in a statement on Wednesday. The fund will «have a strong focus on the digital economy,» said Eric Neo, group chief executive of RF International and non-Executive Director of RF Fund Management in the statement.
Among the companies, it has already identified are five fintech companies in Singapore, two real estate tech (proptech) firms in Japan and Indonesia, an automotive tech firm in China as well as an education tech company in Vietnam, Neo said in an interview with «The Business Times.».
Support for Digital Ecosystem
Neo noted that RF International's support for Singapore's digital startup ecosystem goes beyond money and capital. The firm was an early investor in blockchain-enabled capital markets platform iSTOX.
«We are involved in each stage of growth. From new acquisitions and market penetration… 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,» Neo said in the statement.
