VMS Group, a Hong Kong family office with just under $4 billion in assets under management (AUM), is venturing into crypto for the first time, Bloomberg reported on Monday.
The firm has earmarked up to $10 million to investment strategies run by decentralized finance (DeFi) hedge fund Re7 Capital, partner Elton Cheung told the news organization.
VMS is looking to diversify into more liquid investments, Cheung said. Its investment strategy has largely been focused on private equity during its two-decade existence. Private equity has become less liquid because investees are choosing to stay private for longer, he added.
Cheung also cited clearer regulatory treatment of digital assets in numerous jurisdictions as well as growing institutional demand as factors in stepping into crypto.
VMS did not respond to CoinDesk’s request for further comment.
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