Protected Cell Company ^[1] for multiple investments with different investors via one company but different ‘investment cells’. Insurance companies with different risk profiles and customer types, and funds opt for this structure since it is expensive to administer.

The main features are:

- Its a single legal entity, but it can have separate ‘cells’ each with their own assets, liabilities and investors.

- Each ‘cell’ issues its own dividends and financial statements, and has its own directors.

- Each cell can be liquidated when it outlives its financial usefulness - e.g. funds raised for a separate finite life project.

- Funds use this structure for different class of investors or for different class of investments.

Since all the administrative costs for each cell are the same as those for a company, only large financial systems use this structure.