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Tuesday, 16 May 2017

ADGM eases capital base rules for VC funds | The National

ADGM eases capital base rules for VC funds | The National:

"The Abu Dhabi Global Market has made it easier for venture capital funds to operate in the financial free zone on Al Maryah Island by removing the need for them to put up cash to start these businesses.

The ADGM’s Financial Services Regulatory Authority, the zone’s regulator, said the move to simplify regulations for venture capital funds by not making them subject to any capital base requirements or expenditure-based capital took effect from May 15.

"In close consultation with industry players, the tailored regulatory framework for VC managers simplifies the applicable regulatory requirements while maintaining the necessary safeguards to ensure that they operate in a safe and sound manner," ADGM said."

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