Latest news with #VMSGroup
Bloomberg
2 days ago
- Business
- Bloomberg
Trump's World Liberty Gains Another International Crypto Partner
World Liberty Financial Inc. is entering into a partnership with an arm of Re7 Capital, a decentralized-finance hedge fund based in London that is set to receive up to $10 million in investment from Hong Kong family office VMS Group. No financial terms were disclosed. The Trump family affiliated decentralized finance platform plans on launching a USD1 stablecoin vault on Euler and Lista with Re7 Labs, the innovation arm of Re7 Capital, according to a joint statement between World Liberty Financial and Re7. The move is a part of a larger initiative to scale World Liberty's USD1 on Binance's BNB Chain, the decentralized blockchain ecosystem of the world's largest crypto platform.
Yahoo
4 days ago
- Business
- Yahoo
Hong Kong Family Office VMS to Allocate Up to $10M to First Crypto Play: Bloomberg
VMS Group, a Hong Kong family office with just under $4 billion in assets under management (AUM), is venturing into crypto for the first time, Bloomberg reported on Monday. The firm has earmarked up to $10 million to investment strategies run by decentralized finance (DeFi) hedge fund Re7 Capital, partner Elton Cheung told the news organization. VMS is looking to diversify into more liquid investments, Cheung said. Its investment strategy has largely been focused on private equity during its two-decade existence. Private equity has become less liquid because investees are choosing to stay private for longer, he added. Cheung also cited clearer regulatory treatment of digital assets in numerous jurisdictions as well as growing institutional demand as factors in stepping into crypto. VMS did not respond to CoinDesk's request for further in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
5 days ago
- Business
- South China Morning Post
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.
Straits Times
5 days ago
- Business
- Straits Times
A $5 billion Hong Kong family office makes first crypto foray
HONG KONG - A money manager to some of Hong Kong's richest individuals will start investing in crypto, 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 (S$5 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 hasn't been finalised. The decision is part of recent moves by VMS to diversify into more liquid investments, Mr 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 technology and pharmaceuticals. In 2023, it teamed up with a former executive from Chinese artificial-intelligence company SenseTime Group to look for early-stage investments in AI. Mr Cheung declined to identify VMS's clients. Digital assets, meanwhile, have been gaining in popularity since Donald Trump was elected to the White House in November with a pro-crypto agenda that he's since begun enacting. Bitcoin has rallied about 50 per cent since the election, and a blockbuster initial public offering by stablecoin issuer Circle Internet Group in June has added to the momentum. 'We thought this was the right time because of growing demand and because we see clearer legislative and government support from various jurisdictions, as well as large institutional support and endorsement,' Mr Cheung said. Moving into crypto Wealth managers are taking steps to accommodate rising crypto adoption among their clients. JPMorgan Chase & Co. plans to let wealth-management customers use some cryptocurrency-linked assets as collateral for loans, Bloomberg News reported this month. VMS opted to to make its crypto foray through Re7 rather than investing directly in tokens like Bitcoin to limit volatility, Mr Cheung said. Re7 uses a market-neutral strategy through which it earns yield by providing liquidity on decentralised exchanges and by lending stablecoins – while using hedging to mitigate price swings. Re7 has consistently generated double-digit yields since its inception in 2021, its founder Evgeny Gokhberg said in an interview, without providing exact figures. VMS has been also exploring partnerships with digital-asset payments and infrastructure projects, said Li Zhi who joined VMS in London in December 2023 to lead investing in this area. That includes studying whether it can integrate crypto-based payments at a Vietnam real estate project it currently operates as majority shareholder. 'There is very strong institutional and family interest in getting regulated digital asset exposure,' Mr Li said. 'We have seen the younger generation of families wanting to do something different.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Bloomberg
5 days ago
- Business
- Bloomberg
A $4 Billion Hong Kong Family Office Makes First Crypto Foray
A money manager to some of Hong Kong's richest individuals will start investing in crypto, as more favorable regulations attract a wider array of investors to the digital-asset sector. VMS Group, a multifamily office with just under $4 billion in assets under management, plans to allocate up to $10 million to strategies run by decentralized-finance hedge fund Re7 Capital, said VMS managing partner Elton Cheung in an interview. He added that the size of the allocation hasn't been finalized.
