A new equity fund based in Hong Kong is planning to raise $100 million for investment in the digital industry, focusing on early-stage Web3 companies in the regional market. The fund, named ProDigital Future, has already raised about $30 million during its half-year fundraising period and intends to hit its target by the end of 2023. Ben Ng, a partner at equity firm SAIF Partners, and tech investor Curt Shi lead the fund, which has already received support from Sunwah Kingsway Capital Holdings and Golin International Group.
ProDigital Future aims to embrace Hong Kong’s policies and will expand to Australia, Singapore, Europe and the United States. It has already invested in six digital asset projects, including metaverse company GigaSpace and One Future Football, a digital football league from Australia. The fundraising process has been cautious, with Hong Kong investors and some family offices from China, Australia, and Singapore taking part.