June 25, 2025
By Our Correspondent
As more friendly laws attract a wider spectrum of investors to the digital asset market, some of Hong Kong’s wealthiest people’s money managers will start investing in cryptocurrencies, according to Bloomberg.
The multifamily office VMS Group, which oversees assets valued at little under $4 billion, plans to invest up to $10 million in strategies run by the decentralized-finance hedge fund Re7 Capital, according to VMS managing partner Elton Cheung in an interview. He added that the precise amount of the allocation has not yet been determined.
The decision is part of VMS’s recent efforts to diversify into more liquid assets, Cheung said.
The company has focused mostly on private equity and other longer-term strategies since its inception twenty years ago.
Even while those investments have done well, he noted that as more businesses choose to remain private for extended periods of time, these assets have become less liquid, making it more difficult to exit.
VMS manages funds that invest in a variety of industries, including internet technology and pharmaceuticals, and assists some of the city’s wealthy families with their money management needs, ranging from real estate to conglomerates. In 2023, it partnered with a former executive from SenseTime Group Inc., a Chinese artificial intelligence business, to search for early-stage AI investments.
Cheung refused to name the customers of VMS.
Meanwhile, since Donald Trump was elected president in November with a pro-crypto agenda that he has since started implementing, digital assets have been becoming more and more popular. Since the election, Bitcoin has increased by almost 50%, and last month’s successful IPO by stablecoin issuer Circle Internet Group Inc. has accelerated the trend.
“Growing demand and the clearer government and legislative support from multiple jurisdictions, along with strong institutional support and endorsement, led us to believe that this was the right time,” Cheung added.
