ProDigital Future to raise $100m for Hong Kong crypto hub

The capital raised will focus on the development of early-stage ventures.

Hong Kong-based fund ProDigital Future aims to raise $100m this year to invest in digital asset start-ups in a quest to become a regional fintech hub.

The fund, led by private equity firm Saif Partners venture partner Ben Ng and tech investor Curt Shi, has so far secured $30m in funding commitments from Sunwah Kingsway Capital Holdings and Golin International Group.

The funds will be used to target early-stage and developing ventures with particular attention on companies with ties to China’s transition into web3.

So far, the fund has invested in six digital-asset projects, including Hong Kong-based metaverse software firm GigaSpace, and the Australia-based digital sports club, One Future Football.

ProDigital Future’s fund comes amid a turbulent time in the crypto industry following the collapse of several high-profile crypto-affiliated firms.

However, after years of stagnation preceding covid-19 complications, Hong Kong continues to push through hurdles to create a digital asset hub in the country to boost the financial economy and revive the sector.

“I understand the concerns, but nothing is perfect given the complexity of the crypto economy and current geopolitical situation”, said Shi in an interview with Bloomberg.

“While our portfolio and fund will embrace Hong Kong and its policies, we will continue to have a presence in Australia, Singapore, as well as in Europe and the US.”

Looking for your next crypto casino? Check out Bitcasino, Mega Dice or FortuneJack!

Written by Isabella Aslam

Reporter

Isabella is an experienced writer in B2B and B2C journalism. Alongside crypto, Isabella writes and discusses the topics of relationships and psychology. Isabella holds a first-class degree in music journalism and often interviews electronic artists and DJs.