{"id":76453,"date":"2023-03-30T12:53:23","date_gmt":"2023-03-30T09:53:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76453"},"modified":"2025-09-10T17:28:52","modified_gmt":"2025-09-10T14:28:52","slug":"hong-kong-fund-aims-to-raise-100-million-for-web3-investments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hong-kong-fund-aims-to-raise-100-million-for-web3-investments\/","title":{"rendered":"Hong Kong fund aims to raise $100 million for Web3 investments"},"content":{"rendered":"

Investors in Hong Kong have created the ProDigital Future fund with a $100 million target to finance the digital assets industry. As reported by Bloomberg<\/a>.<\/p>\n

According to the publication, the organisation closed the six-month fundraising period at $30 million.<\/p>\n

The fund is led by Ben Ng, a partner at SAIF Partners, a Hong Kong-based venture-capital firm, and Chinese investor Kurt Shi. said<\/a> that the funding process is “relatively smooth”, though investors remain cautious about crypto projects.<\/p>\n

ProDigital Future is focused on China, but also intends to have a presence in Australia, Singapore, Europe and the United States.<\/p>\n

The fund has currently invested in six Web3<\/a>-projects, including the metaverse GigaSpace and the Australian digital sports club One Future Football.<\/p>\n

In recent times, Hong Kong has been actively pursuing developments in digital assets. The jurisdiction’s Financial Secretary Paul Chan said<\/a> that authorities would allocate $6.4 million to accelerate the development of the Web3 ecosystem.<\/p>\n

Arthur Hayes, the former CEO of the Bitcoin exchange BitMEX, suggested that China is trying to return to the crypto industry<\/a> through Hong Kong.<\/p>\n

In February 2023, the local Securities and Futures Commission launched public consultations on new rules<\/a> for trading platforms that offer clients digital assets.<\/p>\n

Several crypto firms, including Huobi<\/a> and OKX<\/a>, have already filed applications for a Hong Kong trading licence.<\/p>\n

As reported in March, several large Chinese banks opened accounts<\/a> or sent requests offering cooperation to crypto firms based in the jurisdiction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investors in Hong Kong have created the ProDigital Future fund with a $100 million target to finance the digital assets industry. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":76454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[832,1133],"class_list":["post-76453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hong-kong","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76453"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76453\/revisions"}],"predecessor-version":[{"id":76455,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76453\/revisions\/76455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76454"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}