As published on wealthadviser.co, Wednesday November 13, 2019.
GMEX Group (GMEX), a specialist in digital business technology solutions for capital markets, in collaboration with Digital Partners Network (DPN), is to launch the Digital Investment Fund PCC (DIF).
DIF is a Professional Fund registered in the Seychelles, approved and regulated by the Seychelles Financial Services Authority (FSA). As the first ever tokenised hybrid fund, which is regulated, it bridges the gap between the conventional and digital investment worlds.
DIF has been set up as a Protected Cell Company (PCC), with initially three cells:
• Digital FinTech Fund (DFF) – A digital technology incubation/ early stage investment fund supporting global FinTech blockchain and Artificial Intelligence (AI) businesses with a worldwide target market and audience.
• Digital Green Finance Equity Fund (DGFEF) and Digital Green Finance Debt Fund (DGFDF) – Supporting global green finance initiatives. The sustainability platform will aim to consolidate small and medium scale projects in Africa with a core focus on water, energy, waste and green technology.
DIF has the facets of a traditional fund structure combined with the ability to tokenise the whole fund, any individual cell or any component. As a regulated investment fund it provides Professional Investors; including High Net Worth Individuals, Institutions and Corporates, with the same rights as conventional funds.
Hirander Misra (pictured), CEO of GMEX Group and Director of Digital Investment Fund PCC, says: “DIF represents a new way to invest in high potential firms and projects, providing a new set of tools to access tokenised digital assets in a more secure and regulated way.
“Working with the Digital Partners Network, to bring DIF to the investment community, is the next phase of the GMEX strategy to deliver our hybrid conventional and digital model to the creation and trading of FinTech and Green funds.”
Dr Steve Fanny, CEO of the Seychelles Financial Services Authority, says: “We are pleased that DIF has chosen to set up based upon the prevailing laws of Seychelles and regulated by the Financial Services Authority.”
Jessica T.Naga, Partner of DPN and Managing Director of Digital Associates, says: “DIF, as a new-generation professional fund, provides the benefits of digital assets backed by conventional assets with regulatory oversight and a familiar fund structure.
“We are pleased to be a part of bringing these innovative fund opportunities to the market and excited about discussing them this week at the China Offshore Summit in Shanghai.”
Digital Associates (DAL), a legal firm focussed on the digital economy, which is part of DPN, has led the structuring of DIF, including its conventional and tokenised structure baked by real assets and licence approval.