What is a Variable Capital Company (VCC) in Singapore?

A Variable Capital Company (VCC) is a corporate fund structure introduced by Singapore in 2020, specifically designed for investment funds. Unlike a standard Pte Ltd, a VCC can issue and redeem shares at net asset value, segregate assets and liabilities across sub-funds (in an umbrella structure), and maintain investor confidentiality by keeping its shareholder register private. It is used for hedge funds, private equity, real estate funds, and family office investment vehicles.