Hong Kong investors will create a fund to support blockchain projects

A group of Hong Kong investors is launching a fund with a capital of up to $100 million to finance projects based on decentralized technologies and Web3.

According to Bloomberg, the ProDigital Future fund will focus on the markets of the Asia-Pacific region. By the end of 2023, he plans to raise more than $100 million. Ben Ng and Kurt Shea led the investment fund. The giants Sunwah Kingsway Capital Holdings and Golin International Group have pledged to support him.

Family corporations from China, Australia and Singapore took part in the creation of the fund.

In addition to supporting projects in Hong Kong, ProDigital Future will focus on funding startups from the US, Europe, Singapore and Australia. Particular attention will be paid to projects based on Web3.

Hong Kong plans to create one of the centers for the development of the blockchain industry.

Chinese businesses support the plans for the metropolis and plan to obtain a license from local regulators to operate in Hong Kong.