Singapore-based multi-family office Whampoa Group is planning niogn to raise $50 million for a new cryptocurrency hedge fund and also deploy $100 million via a venture capital fund focused on the same space, according to a report by Bloomberg.
Singapore-based multi-family office Whampoa Group is planning niogn to raise $50 million for a new cryptocurrency hedge fund and also deploy $100 million via a venture capital fund focused on the same space, according to a report by Bloomberg.
The report cites an interview with Shawn Chan, co-founder and chief executive officer of Whampoa Group, which is anchored by member of the Lee family which founded Oversea-Chinese Banking Corp, and Amy Lee, the niece of the city-state’s founding prime minister.
In the interview Chan revealed that the Whampoa hedge fund will be market-neutral in order to offset cryptocurrencies’ volatility, and will primarily trade bitcoin and ether. It will also have the ability to occasionally trade other tokens when it identifies a favourable risk-reward opportunity.
Whampoa is actively seeking partners from the new venture caotako fund and has been talking to regional family offices as well as some big Chinese internet companies, according to Chan.
