AAA Venture Fund SPC Limited
Messrs. Peter Obrist and Didier van Caloen
Directors
AAA Venture Fund SPC Limited (In Controllership)
c/o Krys Global
Governors Square, Building 6, 2nd Floor
23 Lime Tree Bay Avenue
PO Box 31237
Grand Cayman KY1-1205
Cayman Islands
By Mail and Email
Dear Sirs,
Re: Decision Notice — AAA Venture Fund SPC Limited (In Controllership) (Req. #12680) ("the Fund")
We write to you in your capacity as directors of the Fund. We refer to our Warning Notice dated 7 January 2014.
As you are aware effective 13 May 2013 the Cayman Islands Monetary Authority, pursuant to section 30 (3) (e) of the Mutual Funds Law (2012 Revision), appointed Mr. Kenneth Krys and Ms. Margot Maclnnis ("the Controllers") of Krys Global to assume control of the affairs of the Fund.
The Controllership has ended. There is no funding available to move forward with a formal `winding-up' of the Fund.
TAKE NOTICE:
The Cayman Islands Monetary Authority ("the Authority") of 80e Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands, has taken the following action:
ACTION:
The Authority has cancelled the Fund's mutual fund registration pursuant to section 30 (3) (a) of the Mutual Funds Law (2015 Revision) ("the Law").
REASONS:
The Authority is, pursuant to sections 30 (1) (a),(b),(d) and (e) of the Law, satisfied that (i) the Fund is unable to meet its obligations as they fall due; (ii) is carrying on or attempting to carry on business in a manner that is prejudicial to its investors or creditors; (iii) the direction and management of the Fund has not been conducted in a fit and proper manner; and (iv) Mr. Peter Obrist is not a fit and proper person to hold the position of director of a regulated mutual fund.
EFFECTIVE DATE OF DECISION:
The Authority's decision regarding the above action is effective 08 November 2016.
Yours faithfully,
Cindy Scotland
Managing Director
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