VMS Group, a Hong Kong household workplace with slightly below $4 billion in belongings beneath 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 informed the information group.
VMS is trying to diversify into extra liquid investments, Cheung stated. Its funding technique has largely been targeted on personal fairness throughout its two-decade existence. Non-public fairness has turn out to be much less liquid as a result of investees are selecting to remain personal for longer, he added.
Cheung additionally cited clearer regulatory treatment of digital assets in numerous jurisdictions in addition to rising institutional demand as components in getting into crypto.
VMS didn’t reply to CoinDesk’s request for additional remark.
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