Humanity-Centered Fund

Investing in
companies that
put people first

A Singapore-based institutionally structured fund deploying humanity-centered design principles across growth companies, initially in Asia and expanding globally. Advised by the Don Norman Design Award (DNDA) Board of Directors and its experienced, multidisciplinary team.

HCF
HCD+
Framework · Developed with DNDA
Asia
Initially · Expanding Globally
DNDA
Strategic Alliance
MAS
Fund Manager Regulated

Important information. This website is general information about Tan Phi Funds Management and its approach. It is not an offer, solicitation or advertisement of any fund. Any fund managed by TPFM is offered only to accredited and institutional investors under the Securities and Futures Act 2001, via offering documents and following eligibility verification — never to the retail public.


Companies that design for humanity can outperform

The Humanity-Centered Fund applies HCD+ — humanity-centered design — as a systematic investment framework across the full investment lifecycle. We believe companies that embed humanity-centered design at their core can build more defensible products, achieve faster adoption, and generate stronger long-term value. HCF is structured as a pilot fund to test that hypothesis rigorously.

What is HCD+?

HCD+ — humanity-centered design — is the broader design philosophy Don Norman set out in Design for a Better World (MIT Press, 2023). It widens conventional human-centered design along five lines:

  • Address root causes rather than surface symptoms.
  • Design for whole communities and ecosystems, not the individual user alone.
  • Weigh long-term outcomes ahead of short-term metrics.
  • Build continuous learning into how a product is architected and evolves.
  • Own the downstream effects of a product’s growth on the people and systems it reaches.

The difference is one of scope, not scale. Where conventional human-centered design asks whether a product works well for the people using it, HCD+ asks what that product does to the wider ecosystem around them — now and over the long term. What sets it apart is not the size of the problem, but whether systemic and lasting consequences are weighed from the outset.


Institutional architecture

Constituted as a sub-fund of Tan Phi Venture Capital VCC, a Singapore Variable Capital Company registered with ACRA. Fund management conducted under a MAS licence held by TPFM.

Fund Manager Tan Phi Funds Management Pte. Ltd.
Vehicle Sub-fund of TPVCVCC (VCC)
Regulator MAS Licensed · Singapore
HCD+ Advisor Don Norman Design Award (DNDA)
Investment Committee

Chaired by Dr Peter Tan with final investment authority and casting vote. All portfolio decisions rest with the licensed fund manager and IC Chair.

Advisory Committee

Chaired by TPFM. Designated DNDA representatives provide structured HCD+ input on investment strategy and due diligence — non-fiduciary and non-discretionary.

LPAC

Limited Partner Advisory Committee provides investor governance, reviews material conflicts, and holds rights on key fund events including Key Person circumstances.

Regulatory Compliance

Full MAS compliance framework: AML/CFT obligations, fit-and-proper standards, conflicts management per MAS Guidelines, and regular regulatory reporting.

Investor Governance

Transparent governance framework with LPAC representation, regular LP reporting, and clear protocols on conflicts of interest — designed to institutional governance standards.

Long-Term Horizon

A patient capital mandate aligned with the full lifecycle of growth company building — deploying initially across Asia with a clear pathway to global expansion as the portfolio matures.


Growth Stage Focus

HCF deploys humanity-centered design principles across growth companies, initially in Asia and expanding globally. The Fund targets companies across four strategic dimensions, using a rigorous HCD+ screening framework developed in collaboration with DNDA.

A
Portfolio Strategy

System-aware construction testing whether HCD+ portfolio synergies outperform isolated company bets in complex systems.

B
Pre-Investment

HCD+ matrices identify adoption, legal, human, and systemic risks earlier than traditional VC or impact screening.

C
Post-Investment

Embedding HCD+ at the building and scaling stage enables faster learning cycles and prevents value-eroding growth.

D
Impact Measurement

HCD+ enables rigorous measurement of impact with the objective of scaling and compounding that impact.


A team at the intersection of Design, Capital and Science

HCF brings together the originators of humanity-centered design, experienced design educators, scientists, and institutional investment professionals — an integration of design, science, and capital that defines the Fund's approach.

Tan Phi Funds Management
Strategic Alliance · Don Norman Design Award
Anil Kripalani
Anil Kripalani
Chair of the Board of Directors · DNDA
DNDA Board Chair

Chair of the Board of Directors of the Don Norman Design Award. Founding CEO and Chair from DNDA's establishment in 2023 until April 2025, overseeing the build-out of the 501(c)(3) non-profit and the inaugural DNDA24 Summit. Nearly five decades of leadership across the mobile cellular and data networking industries, with early work in M2M systems at Qualcomm and industrial automation at ILS Technologies, and a sustained focus on pioneering IoT. Former President of WirefreeCom, advising CxOs of communications technology and services businesses. Has served on the boards of TIA, EIA, OMA, IEEE VTS, USC Marshall (CTM) and the San Diego Symphony, and is an active supporter of TiE. Endowed the Kripalani Applied Technology Lab at IIT Delhi.

DNDA Board Chair Founding CEO, DNDA M.S. CS · UCLA B.Tech EE · IIT Delhi Duke · Columbia (Exec)
N. Rao Machiraju
N. Rao
MachirajuW
Board Director · DNDA
Scientist

Scientist and venture partner pioneering Humanity-Centered Design (HCD+). Former Principal Scientist at Apple's Advanced Technology Group — the same group Don Norman led — and Co-Director of CHARIOT (Center for Human Applied Reasoning and the Internet of Things) at the University of Southern California. Interdisciplinary expert in public health, general systems, and computer networks; contributor to the evolution of information retrieval and the Internet. Holds 10 patents. Co-founder of reQall Inc. (MIT Media Lab spin-off) and founding advisor to Dimagi.com. Advises organisations across the US and Asia, identifying ventures that harmonise technical rigour with systemic social impact.

10 Patents Apple ATG MIT Media Lab spin-off USC CHARIOT
Christine Trimble
Christine Trimble
VP, Communications & Development · DNDA
Communications

Senior strategic communications executive driving business, technology, and policy outcomes for more than two decades. At Qualcomm — a world leader in mobile technology — served as Vice President of Public Affairs, and previously led Public Relations and Corporate Communications. Deep expertise in complex strategy, thought leadership, global and financial media relations, messaging, reputation and crisis management, and executive communications. B.A. Political Science, University of California, Berkeley.

Qualcomm · Former VP Public Affairs DNDA Summit Comms UC Berkeley

Advised by the DNDA team

HCF is advised by the multidisciplinary team at the Don Norman Design Award (DNDA), which serves as the Fund's exclusive HCD+ advisory and ecosystem partner. DNDA contributes an annually updated HCD+ Framework and provides HCD+ assessment input on each active due diligence target.

Our partnership with HCF reflects our belief that meaningful design can address society’s most pressing challenges. Companies dedicated to this mission will be increasingly valuable in the years ahead. Supporting startups that prioritize a humanity-centered approach is a strategic commitment to fostering a more equitable and sustainable world.

— Don Norman, Distinguished Professor Emeritus
HCD+ Framework

Annual HCD+ Framework Documents, updated as Cumulative Editions incorporating field developments and portfolio learnings — the intellectual foundation of every investment decision.

Due Diligence Input

Written HCD+ Assessment Inputs on each Active DD Target, addressing design alignment, adoption risks, and ecosystem contribution potential.

Ecosystem Access

Access to DNDA's global HCD+ network of innovators, thought leaders, and awardees. Portfolio companies benefit from DNDA Summit participation and co-branding.

Exclusivity

DNDA does not provide equivalent HCD+ advisory services to any other fund during the Term — an exclusivity enshrined in TPFM's Strategic Alliance Agreement with DNDA.

Don Norman Mentorship

Mentorship from Professor Don Norman and the DNDA team — bringing the intellectual heritage of humanity-centered design to the Fund's investment philosophy and portfolio company development.

Institutional Governance

Fully documented Strategic Alliance Agreement with structured Advisory Committee, IP framework, and dispute resolution — built to institutional governance standards.

HCF Announcement

PRESS RELEASE
July 2026 · Singapore

Embargoed

This press release is under embargo until the exclusive media announcement is published.
Please check back here again soon.

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