iSTOX Introduces Unicorn Fund in Digital Securities Format
The ICHAM Unicorn Opportunity Fund, a new investment vehicle focused on unicorn companies, has successfully concluded its initial offering period after raising close to US$20 million. Managed by ICHAM, a Singapore-regulated wealth and fund management company, the fund aims to provide investors with access to a diversified portfolio of late-stage, highly-valuable unicorns in the US, Europe, and Asia.
The ICHAM Unicorn Opportunity Fund will invest in unicorns by buying equity from existing shareholders in the secondary market. This approach offers a unique opportunity for accredited investors to gain access to unicorns, traditionally inaccessible due to high minimum investment thresholds.
The fund's launch on the iSTOX platform, a digitised securities platform regulated by the Monetary Authority of Singapore (MAS), marks a significant step forward in democratising unicorn investing. iSTOX uses blockchain and smart contract technology for the tokenisation and fractionalisation of securities, making it possible for investors to purchase unicorn shares in small, manageable units.
Choo Oi Yee, Chief Commercial Officer of iSTOX, expressed excitement about the launch, stating that it "expands our offering and provides investors with another compelling investment opportunity." The platform also offers investors access to the proprietary exchange it has built for secondary buying and selling of securities.
The ICHAM Unicorn Opportunity Fund is backed by Crestline Investors, which led the financing round that raised around US$20 million. Archan Chamapun, Chief Executive Officer of ICHAM, believes that unicorns constitute a new and growing asset class that investors need to allocate funds to.
iSTOX is supported by prominent backers, including Singapore Exchange (SGX) and Temasek Holdings subsidiary Heliconia Capital Management. The platform's use of blockchain technology and smart contracts promises to streamline processes and reduce minimum investment ticket sizes, making unicorn investing more accessible to a wider range of investors.
The ICHAM Unicorn Opportunity Fund has an initial charter period of four years, with the possibility of extension for up to two years. As the fund begins its investment activities, it will seek to build a diversified portfolio of unicorns, positioning itself as an attractive option for investors seeking exposure to this exciting and rapidly growing asset class.
