According to Bloomberg, Singapore-based asset management firm Whampoa Group plans to raise $50 million for a crypto hedge fund and has announced plans to set up a venture capital fund to invest in digital assets.
According to early estimates, the company intends to set aside $10 billion for a cryptocurrency venture fund.
The Whampoa Group is a multi-family office co-founded by Amy Lee and Lee Han Shih. Amy Lee is the niece of Singapore’s founding Prime Minister Lee Kuan Yew. Both belonged to the extended family of Lee Kuan Yew, who served as the country’s first prime minister from 1959 to 1990.
Its CEO Shawn Chan said that Whampoa’s cryptocurrency hedge fund will adopt a market-neutral strategy to offset the volatility of cryptocurrencies, mainly focusing on Bitcoin i etar.
But occasionally other cryptocurrencies are traded while securing a favorable risk-reward.
The $10 billion private venture capital fund, likely to launch next quarter, will invest in Web 3 early-stage startups.
The Whampoa Group is looking for strategic partners with regional family offices and some large Chinese internet companies.
Istraživanje koje su proveli PWC i Elwood Asset Management pokazuje da je 47% tradicionalnih hedž fondova ušlo ili planira ući na tržište kriptovaluta. Istraživanje je obuhvatilo 39 kompanija hedž fondova u prvom kvartalu ove godine sa ukupno 180 milijardi dolara imovine pod upravljanjem.
U međuvremenu, kriptovalutni hedž fond Pangea Fund podignuta $85 million to focus on a “long-only” strategy in May.
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Source: https://blockchain.news/news/singapores-whampoa-group-raises-$50m-for-crypto-hedge-funds