The latest compliance news: regulatory developments, punishments, guidance, permissions and authorisations for new product and service offerings.

MAS, True Global Ventures
The Monetary Authority of Singapore has granted Singapore-regulated True Global Ventures 4 Plus Pte, a venture capital firm, a licence to conduct regulated fund management activities that extend beyond managing VC funds.

The Asia city-state has granted the Capital Markets Services licence to the firm, which now operates as a Licensed Fund Management Company for accredited investors.

True Global Ventures said it can now potentially manage continuation funds, fund of funds, and public company investments.

(A “continuation fund,” according to a definition from Moonfare, is a private equity vehicle designed to extend the holding period of one or more assets from an existing fund that has reached or is approaching the end of its lifecycle. The primary purpose of a continuation fund is to allow fund managers to maintain control over promising assets while providing liquidity options to existing investors who want to exit.)

"With our expanded licence, all of the above investment strategies are possibilities of our fund management activities,” Dušan Stojanovi?, initiator of TGV, said. “That said, we will still maintain our core focus on funds investing in equity with fund sizes between $100 and $200 million where we have so far had exceptional returns, being among the top 3 per cent of venture capital funds globally in the same vintage."

TGV primarily invests in the Californian Bay Area, New York, Singapore, Hong Kong, London, Paris, Stockholm and Dubai.