Hong Kong family office VMS Group makes first foray into cryptocurrency
A money manager to some of
Hong Kong 's richest individuals will start investing in
cryptocurrency , as more favourable regulations attract a wider array of investors to the digital-asset sector.
VMS Group , a multifamily office with just under US$4 billion in assets under management, plans to allocate up to US$10 million to strategies run by decentralised-finance hedge fund Re7 Capital, said VMS managing partner Elton Cheung in an interview. He added that the size of the allocation has not been finalised.
The decision is part of recent moves by VMS to diversify into more liquid investments, Cheung said. The firm has largely focused on private equity and other longer-duration strategies since it was founded two decades ago. While those investments have performed well, such types of assets have become less liquid as more companies opt to stay private for longer, making it more difficult to exit, he said.
VMS, which helps manage money for some of the city's billionaire families from property to conglomerates, runs funds that invest in various sectors including
internet and
pharmaceuticals . In 2023, it teamed up with a former executive from the Hong Kong-headquartered
artificial intelligence company
SenseTime Group to look for early-stage investments in the technology.
Cheung declined to identify VMS' clients.
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