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Hong Kong billionaire and real estate mogul Adrian Chen’s investment firm is reportedly raising funds to invest in the cryptocurrency space as a sharp drop in the price of Bitcoin pushes it further down. there is (Bitcoin) and other digital asset markets.
according to bloombergC Capital plans to pool $500 million to fund investments in blockchain assets, credit and private equity over the next 18 months.
The report said the company is touting a $200 million blockchain fund and aims to raise another $300 million to invest in private equity and private credit strategies, according to people familiar with the matter. I’m here.
The company’s chief executive and president, Ben Cheng, is optimistic about returns even as the crypto winter continues to push prices of digital assets, including bitcoin, below $20,000. .
He said the current economic climate offers an opportunity for the best results, citing a 40% increase in the company’s crypto investments in the first half of this year amid a bear market.
“When people are on the defensive, we’re on the offensive. After another six to nine months, it’s back.”
To date, C Capital has invested approximately $1 billion in private companies, digital assets and credits. Its hedge fund strategy is primarily focused on crypto trading. According to Cheng, the firm has refused to accept offers from his angel funds and seed-stage companies.
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