Walkers’ Jersey Investment Funds & Corporate practice group have advised on the launch of DeFiance Capital’s liquid token fund – one of the first open-ended crypto funds to be set up in Jersey.
DeFiance Capital was founded in 2020 in Singapore by Arthur Cheong and has made many successful investments across DeFi, Web3 gaming and the infrastructure space.
The fund’s investment objective is to generate superior compounded return over the medium to long term by investing in public crypto assets with great fundamentals and growth potential. The fund benefits from Jersey’s very popular Jersey Private Fund regime, which coupled with the Singapore/Jersey double taxation agreement, makes Jersey a great location for Singapore fund managers setting up this type of fund.
For further information on the features of Jersey Private Funds, which include a 48 hour fast track regulatory approval and a light ongoing regulatory regime, see here.
To learn more about the Singapore/Jersey double taxation agreement see here.
A team led by group partner Dilmun Leach advised on the Jersey law elements of the launch, working with Singapore Counsel, BTPLaw LLC and Jersey administrator, Oakbridge. The Walkers team also included senior counsel Sarah Townsend, senior associate Luke Steele and associate Marco Carossa.
Dilmun noted: “We have acted for a number of Singapore managers establishing similar funds in Jersey and so it was great to work with DeFiance, BTPLaw and Oakbridge on this fund. We wish DeFiance well for their future growth plans. Oakbridge ensured a smooth launch – and helped to demonstrate how high quality service providers support Jersey as a popular jurisdiction for crypto funds.”
Arthur commented: “We were delighted with the speed to market which we achieved – the JFSC, our lawyers and service providers are very professional and did a great job.”