Me & My Money Series (Sunday Times)

[yeokiwi]

The three founders, together with their friends and families, have pumped $3 million into the fund and aim to raise $20 million by the end of this year.

S$3 million is a tad too little isn't it? Does many small boutique fund start at this figure??
I suppose many sophisticated investors will avoid big funds in the regions of $billion but I suppose S$3 million sounds too little to have any confidence in the manager? With four years of investment experience in Yeoman, I thought he should have gotten some big fishes to pump money for the initial launch.

http://media.wix.com/ugd//2371d3_7ad63b8...a12ba.xlsx
The result since Dec 12 does not seem fantastic. But well, it is just a short period and may not be indicative.