VMS Group, a Hong Kong household workplace with just below $4 billion in belongings below administration (AUM), is venturing into crypto for the primary time, Bloomberg reported on Monday.
The agency has earmarked as much as $10 million to funding methods run by decentralized finance (DeFi) hedge fund Re7 Capital, companion Elton Cheung advised the information group.
VMS is seeking to diversify into extra liquid investments, Cheung stated. Its funding technique has largely been targeted on non-public fairness throughout its two-decade existence. Non-public fairness has grow to be much less liquid as a result of investees are selecting to remain non-public for longer, he added.
Cheung additionally cited clearer regulatory therapy of digital belongings in quite a few jurisdictions in addition to rising institutional demand as components in entering into crypto.
VMS didn’t reply to CoinDesk’s request for additional remark.
Learn Extra: Hong Kong Set to Permit Crypto Derivatives Buying and selling
