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Jurisdiction Selection
Selecting the optimal onshore or offshore structure.
VENTURE CAPITAL · SINGAPORE
Fund administration for Singapore's venture capital community.
From first close to final distribution, Granveld supports the full lifecycle of your VC fund, whether structured onshore in Singapore or offshore in Cayman, BVI or Delaware.
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Fund Documentation
Drafting and coordinating legal architecture.
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Licensing
Determining and executing the regulatory pathway.
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Ongoing Administration
Day-to-day fund and compliance operations support.
Fund Jurisdictions.
Managers and LPs will often choose between onshore Singapore structures and offshore alternatives based on regulatory treatment, investor preferences, tax outcomes and operational requirements.
Singapore
VCC (Variable Capital Company) or GP-LP. Onshore Singapore domicile, with the VCC framework administered by ACRA and fund management conducted by a MAS-licensed or exempt manager. Tax-efficient for qualifying funds and increasingly preferred for SGD-denominated or Asia-focused strategies.
Cayman Islands
Cayman Islands Private Fund (GP-LP). The dominant offshore standard for institutional VC. Cayman SPC or limited partnership, supported by a global network of administrators, auditors and counsel.
British Virgin Islands
BVI Private Investment Fund (GP-LP). Cost-efficient offshore alternative to Cayman. Lighter regulatory touch, broader operational flexibility, popular for smaller or emerging managers.
Delaware
Delaware LP (or, in rarer cases, Delaware LLC). Familiar to US LPs and co-investors; often used where the GP or anchor investors are US-based or where a US nexus is commercially necessary.
Structuring.
Granveld assists with fund structuring from the outset by selecting the appropriate jurisdiction and entity type, and ensuring the core legal and commercial framework is established efficiently.
01 / Jurisdiction
The jurisdiction choice turns on regulatory treatment of the fund and manager, the profile of the LP base, applicable tax treatment for qualifying structures, and ongoing compliance cost. Granveld works through these considerations with the manager, mapping strategy, investor profile and commercial objectives to the most suitable structure, whether a Singapore VCC or GP-LP, or an offshore vehicle in Cayman, BVI or Delaware.
02 / Documentation
The core fund documents, the Limited Partnership Agreement (LPA) and the Private Placement Memorandum or Offering Memorandum (PPM/OM), establish the legal and commercial terms of the fund. Granveld supports the documentation workstream by coordinating inputs, term points and drafting process management, and by instructing and project-managing external legal counsel on the manager's behalf where legal drafting or legal advice is required. The objective is a fund that is correctly structured, properly documented and ready to receive capital efficiently.
03 / Before the Fund
Granveld can assist at every stage, including before a formal fund is in place.
Deal-by-Deal Special Purpose Vehicles
For managers not yet at the fund stage, Granveld establishes deal-by-deal special purpose vehicles, each structured to receive a single investment, allowing the manager to deploy capital, demonstrate capability and build a track record ahead of raising a formal fund.
Warehousing Structures
Where an investment opportunity arises ahead of a fund's first close, a warehousing SPV can be established to hold the asset on a temporary basis. Once the fund has closed, the asset is contributed in specie, transferred into the fund as a non-cash contribution at agreed valuation, ensuring time-sensitive opportunities are not lost whilst the fund raise is ongoing.
Licensing.
To manage a VC fund in Singapore, the manager must either hold a licence or operate under an appropriate exemption or arrangement. Granveld supports both principal routes.
Venture Capital Fund Manager (VCFM)
A VCFM licence issued by the Monetary Authority of Singapore (MAS) is the most direct route and conveys the credibility and autonomy that institutional LPs typically expect. Granveld assists with the full application, including regulatory business plan, compliance framework, MAS liaison and operational readiness, and with ongoing post-licence compliance and reporting obligations.
Operating Under an Existing Licence
For managers not yet ready to apply for their own VCFM licence, or where timing does not permit, it is possible to operate under the licence of an existing MAS-licensed manager. Granveld can facilitate introductions to suitable licensed managers prepared to offer this arrangement and can structure the commercial and compliance terms accordingly. This is a time-limited route: the expectation is an eventual transition to a direct licence.
Fund Administration.
Once a fund is closed and deployed, the operational workload shifts to ongoing administration. Granveld supports the full range of fund administration functions in an independent administrator capacity, covering capital account maintenance, LP reporting, regulatory filing support, and audit coordination.
Fund Administration
We handle day to day fund accounting across the full lifecycle. This includes investor onboarding records, capital call and distribution postings, fee and expense processing, and maintenance of fund and investor capital accounts. We also prepare LP reporting outputs such as capital account statements, drawdown notices, distribution notices, and periodic investor reporting packs. Our records are maintained in line with the LPA and side letter terms so managers have clear and audit ready books at each reporting date.
Corporate Services
We provide corporate secretarial support for the GP, manager, and related SPVs. Our scope includes board and shareholder documentation, statutory register maintenance, annual return workflows, and governance records. We coordinate filing calendars and corporate actions so the fund structure remains in good standing throughout its operating life.
Compliance
We support ongoing compliance obligations in a fund administrator capacity. This includes investor and counterparty due diligence for KYC, AML, and CFT requirements, tax transparency and reporting obligations such as AEOI, FATCA, and CRS, and recurring regulatory compliance requirements for Singapore fund structures and managers. We maintain evidence trails, control calendars, and submission readiness across these workstreams.
Fund Operations
We provide execution support for routine operating workflows. Our scope includes valuation and NAV production cycles, service provider coordination, cash and payment processing controls, and quarter end and year end close timetables. This support is delivered in an independent administrator capacity that coordinates and evidences workflows for the manager, and it does not replace an internal COO or investment team role.
Launch your Fund now
Whether you are structuring a new fund, seeking a licence or transitioning your administration to a specialist, Granveld is ready to assist. Send an enquiry and we will respond directly.
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