• ProDigital Fund is raising $100 million to drive the growth of digital asset industry in Hong Kong.
• The fund has secured $30 million in commitments from investors like Ben Ng and Curt Shi.
• The fund plans to expand its operations beyond Hong Kong to include Australia, Singapore, Europe, and the US.
ProDigital Fund Raises $100 Million for Crypto Industry Growth
Hong Kong aims to regain its status as a leading finance and crypto hub, and to this end, domestic investors have established the ProDigital Fund to raise $100 million. Already having secured $30 million in commitments, the fund aims to reach its target by the end of this year.
Investors Backing ProDigital Fund
The fund’s backers include notable investment firms in Asia, such as Ben Ng, a partner at SAIF Partners, and Curt Shi, an experienced tech investor from China. Sunwah Kingsway Capital Holdings and Golin International Group are the other investors supporting the fund.
Fund Focusing on Early-Stage Web3 Companies
The ProDigital Fund will focus on early-stage Web3 companies catering to the local market. Despite the reluctance of some investors to invest in crypto projects, Shi has reported a smooth fundraising process.
ProDigital Future Fund Expansion Plans
The ProDigital Future Fund intends to expand its operations beyond Hong Kong to include Australia, Singapore, Europe, and the United States while maintaining a strong commitment to Hong Kong and its policies. The fund has invested in six digital asset projects.
HK Authorities Meeting Crypto Firms To Deal With Financial Hurdles
To deal with the challenges witnessed by crypto companies while setting up corporate banking accounts, the Hong Kong authorities have arranged a meeting between these firms and bankers. This initiative implies that Hong Kong is committed to bringing positive change within the space by supporting the sector and alleviating financial hurdles.