ProDigital Future, a $100 million fund launched by local Hong Kong investors to finance the digital industry, has closed its half-year fundraising period having raised approximately $30 million.
Despite this, the fund is still on track to reach its $100 million target by the end of 2023. The fund is headed by Ben Ng, a partner at SAIF Partners, and Curt Shi, a Chinese tech investor. Sunwah Kingsway Capital Holdings and Golin International Group have already invested in this fund.
As reported by Mr.Shi, the fundraising process has been “relatively smooth”, with support coming from Hong Kong, China, Australia, Singapore, Europe and the US.
The fund aims to invest in early-stage Web3 companies, particularly those targeting the regional market and will embrace policies in both Hong Kong and other potential countries.