Norton Rose Fulbright supports Truleum Venture Partners on tokenised private credit fund launch

Norton Rose Fulbright has advised Truleum Venture Partners Limited (Truleum Venture Partners) on the launch of Seven Stars Fund CEIC, a DFSA-regulated, DIFC-domiciled tokenised private credit fund.

The fund aims to provide asset-backed financing to UK SRA-registered law firms and FCA-regulated claims management companies for portfolios of high-volume, short-duration legal claims. It has a target size of £250 million, with a hard cap of £400 million.

Participating shares in the fund are issued as SST Tokens using the ERC-3643 standard. Tokeny S.à r.l. acts as token platform provider and Apex Fund Services (Dubai) Ltd. as administrator. The fund is offered by private placement to Professional Clients only.

The Norton Rose Fulbright funds team was led by partner Geoffroy Hermanns, supported by counsel Shakir Mogalia and associates Dale Deplitch, Bita Mozafari and Bryan O’Shea. Partner Matthew Shanahan advised on regulatory matters.

Geoffroy Hermanns said, “This innovative launch demonstrates how tokenisation can be incorporated into a regulated private credit fund structure. We are delighted to have supported Truleum Venture Partners on this significant launch, bringing together our funds and regulatory experience to help deliver an innovative structure in a rapidly evolving area of the market.”