Hong Kong-based venture fund ProDigital Future Fund secured $30M in capital commitments at its first close.
The fund aims to raise $100M in total by the end of this year. The fund will back early-stage Web3 startups.
SAIF Partners' Ben Ng and Chinese tech investor Curt Shi will lead the ProDigital Future Fund.
- Sunwah Kingsway Capital Holdings Ltd. and Golin International Group Ltd. joined as limited partners in the fund.
- The fund has already invested in six startups, including metaverse platform GigaSpace and digital sports club One Future Football.
- Shi said, "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 U.S."
Hong Kong is aggressively soliciting cryptocurrency startups in an effort to establish itself as a financial center.
