Whampoa Group Invests $100 Million For Crypto Venture Fund
For investments in digital assets, the Singaporean asset manager Whampoa Group intends to establish a crypto hedge fund and a venture capital fund.
In addition to planning to raise $50 million for a cryptocurrency hedge fund, the organization has set aside $100 million for a startup fund. It has established a brand-new company called Whampoa Digital with the purpose of luring outside capital to the market for digital assets.
According to media sources, Whampoa Group has a multi-pronged investment plan that comprises a $50 million public market hedge fund and a $100 million private market asset fund.
The private venture capital fund will invest in Web3 early-stage start-ups and is anticipated to open in the upcoming quarter. Whampoa Digital will subsequently expand the fund’s size in order to scale up investments.
Shawn Chan, CEO of Whampoa Group, said:
“We think there is great conviction in this space. The venture capital fund will help us to expand our footprint in this area.”
He went on to say that the new cryptocurrency venture fund has received positive feedback from Asian IT companies and business associations. According to Shan, Southeast Asia’s high internet penetration and demographics indicate that Web3 products and services will be widely adopted.
Amy Lee and Lee Han Shih formed the multi-family investment company Whampoa Group together. Both are members of the extended family of Lee Kuan Yew, who ruled the city-state from 1959 to 1990 and was its first prime minister.
The group had contributed to a $500 million fund that Binance Labs had launched in June of this year in order to promote the adoption of Web3 and blockchain technology. 200 enterprises or so are included in its investment portfolio.
Web3 start-ups in DeFi have long-term growth potential, in addition, to use in remittances and the entertainment sector, according to Aureole Foong, a senior partner at Whampoa Group.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Whampoa Group Invests $100 Million For Crypto Venture Fund
For investments in digital assets, the Singaporean asset manager Whampoa Group intends to establish a crypto hedge fund and a venture capital fund.
In addition to planning to raise $50 million for a cryptocurrency hedge fund, the organization has set aside $100 million for a startup fund. It has established a brand-new company called Whampoa Digital with the purpose of luring outside capital to the market for digital assets.
According to media sources, Whampoa Group has a multi-pronged investment plan that comprises a $50 million public market hedge fund and a $100 million private market asset fund.
The private venture capital fund will invest in Web3 early-stage start-ups and is anticipated to open in the upcoming quarter. Whampoa Digital will subsequently expand the fund’s size in order to scale up investments.
Shawn Chan, CEO of Whampoa Group, said:
“We think there is great conviction in this space. The venture capital fund will help us to expand our footprint in this area.”
He went on to say that the new cryptocurrency venture fund has received positive feedback from Asian IT companies and business associations. According to Shan, Southeast Asia’s high internet penetration and demographics indicate that Web3 products and services will be widely adopted.
Amy Lee and Lee Han Shih formed the multi-family investment company Whampoa Group together. Both are members of the extended family of Lee Kuan Yew, who ruled the city-state from 1959 to 1990 and was its first prime minister.
The group had contributed to a $500 million fund that Binance Labs had launched in June of this year in order to promote the adoption of Web3 and blockchain technology. 200 enterprises or so are included in its investment portfolio.
Web3 start-ups in DeFi have long-term growth potential, in addition, to use in remittances and the entertainment sector, according to Aureole Foong, a senior partner at Whampoa Group.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
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