A VCC can be used by fund or asset managers, wealth managers, PE, real estate, VC managers and multi-family offices. It can be used for traditional, alternative, PE, real estate and VC funds. It can also be used as an alternative to retail unit trust funds. The initial success for private VCC funds is very encouraging and the support from institutional investors and family offices bodes well for the VCC regime. We believe the trend will remain strong and the shift from conventional offshore segregated portfolio company fund and protected cell company fund structures to private VCC funds in Singapore will continue. The VCC is no longer merely a talking point but has become a key option for fund managers, investors and family offices. It will become even more attractive when the VCC regime is refined and further developed in the near future.