Becoming a Global Investor Programme (GIP)-select fund

Background

Under the Global Investor Programme (GIP), investors with strong entrepreneurial and managerial experience are eligible to apply for Permanent Residency (PR) in Singapore.

Applicants for the GIP are also required to make investments into Option A, B or C.

For Option B, the investments are to be made into a GIP-select fund.

Eligibility Criteria

1. Funds and fund management companies must be incorporated and based in Singapore.

2. Fund management companies must obtain the necessary regulatory approval from MAS e.g. CMS, RFMC, LFMC and VCFM for their proposed activities.

3. Fund management companies must possess good track record of previous PE/VC fund management experience and funds’ performance, including the following:

Total AUM managed of at least S$1 billion;
Raised at least 3 funds; and
The General Partner should have at least 10 years of investment track record.

4. EDB has the discretion to call for new funds via CFP every year.

5. Each fund once qualified as a GIP-select Fund shall be listed on EDB’s GIP fund list for an initial period of 3 years, for the purpose of raising funds from GIP investors. Thereafter their qualification as a GIP-select Fund will be reviewed.

Key Requirements

The Fund to manage a minimum fund size of S$200 million, inclusive of both GIP and non-GIP monies.
The Fund to accept at least S$50 million GIP monies (i.e. minimum 2 GIP applicants) if EDB has approved the applicants during the funds’ respective fund raising cycles.
The Fund to provide at least three months fund raising period.
The Fund Life has a minimum fund tenure of 8 years.
The Fund to obtain at least 1% co-investment from the General Partner.
The Fund to submit the upcoming fund-raising schedule.
The Fund to invest at least 50% of its GIP monies raised or S$50 million of the GIP monies received (whichever is lower) into Singapore-based companies for sectors promoted by EDB and/or other economic agencies.

These sectors could include:

Aerospace Engineering
Alternative Energy/ Clean Energy
Automotive
Chemicals
Consumer Businesses
Electronics
Energy
Engineering Services
Healthcare
Infocomm Products & Services
Logistics & Supply Chain Management
Marine & Offshore Engineering
Medical Technology
Nanotechnology
Natural Resources
Safety & Security
Space
Shipping
Pharmaceuticals & Biotechnology
Precision Engineering
Professional Services
Arts Businesses
Sports Businesses

EDB shall not dictate the capital call down period for each fund managed. Once a GIP applicant is granted an approved-in-principle (“AIP”) PR status, the S$25 million investments will be transferred to the ESCROW account (if required) for respective funds to manage their capital call downs. GIP-select Funds are required to submit their fund raising schedules to EDB.

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Background

Eligibility Criteria

Key Requirements

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