GMEX Technologies, on Wednesday, announced its partnership with Digital Partners Network (DPN) to launch a tokenized hybrid fund called Digital Investment Fund PCC (DIF).
Registered in Seychelles, the fund is aiming to bridge the gap between the conventional and digital investment areas, per the company.
The hybrid fund has been set up as a Protected Cell Company (PCC) with three initial cells – digital fintech fund (DFF), digital green finance equity fund (DGFEF), and digital green finance debt fund (DGFDF).
The first one will entirely focus on early-stage investment in blockchain and other emerging tech-based startups while the latter will aim to consolidate small and medium scale projects in Africa with a core focus on water, energy, waste, and green technology.
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Commenting on the newly launched fund, Hirander Misra, chief executive of GMEX Group and director of DIF, said: “DIF represents a new way to invest in high potential firms and projects, providing a new set of tools to access tokenized digital assets in a more secure and regulated way.”
“Working with the Digital Partners Network, to bring DIF to the investment community, is the next phase of the GMEX strategy to deliver our hybrid conventional and digital model to the creation and trading of FinTech and Green funds.”
No access to retail
The fund has been approved and regulated by the Seychelles Financial Services Authority (FSA) and will be targeted to professional investors, institutions, and corporates. Its structure also to tokenize the whole fund.
“DIF, as a new-generation professional fund, provides the benefits of digital assets backed by conventional assets with regulatory oversight and a familiar fund structure,” Jessica T.Naga, a partner at DPS, added.
Earlier this year, GMEX also launched a custodian service to offer secure storage of digital assets.