VCC Grant Scheme launched under the Financial Sector Development Fund

What changed?

Announced alongside the framework launch and effective 15 January 2020, the VCC Grant Scheme co-funded up to 70% of eligible expenses paid to Singapore-based service providers for incorporating or registering a VCC — capped at SGD 150,000 per application, with a maximum of three VCCs per fund manager. The scheme was funded by the Financial Sector Development Fund for up to three years.

Why it matters for fund managers

The grant materially lowered the cost of adopting a brand-new structure and drove much of the VCC's early adoption. The scheme was later extended on reduced terms in January 2023, and expired on 15 January 2025 — new VCCs now bear full setup costs.