HONG KONG—As the focus on cryptocurrency in Hong Kong begins to increase, investors here are launching a $100-million fund to finance the digital industry.
The new fund, ProDigital Future, will aim at early-stage Web3 companies oriented at the regional market, Cointelegraph reported.
The fund is led by Ben Ng, a partner at Hong Kong-based equity firm SAIF Partners, and Curt Shi, a long-time tech investor from China. At this point, Sunwah Kingsway Capital Holdings and Golin International Group have already hopped in to support the fund, Cointelegraph said.
Investors ‘Cautious’
“So far, Shi told journalists that the fundraising process has been ‘relatively smooth,’ although the investors are cautious about putting their money into crypto projects. Reportedly, Hong Kong investors and some family offices from China, Australia and Singapore also participated in ProDigital Future,” Cointelegraph said.
ProDigital Future has already invested in six digital-asset projects with metaverse company GigaSpace and One Future Football, a digital football league from Australia currently operating in stealth mode.
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