Pacific Insurance and Waterdrop Capital Launch Blockchain Fund in HK
Pacific Insurance Investment Management Hong Kong branch, the third-largest state-owned insurer in China, has joined forces with Waterdrop Capital to establish a blockchain innovation capital fund and POS token revenue improvement fund in Hong Kong. The partnership aims to offer investors a wider range of investment opportunities in the digital asset space.
Hong Kong Seeks to Become Global Hub for Virtual Assets
The timing of this move is significant because Hong Kong is seeking to establish itself as a global hub for the virtual assets ecosystem, as evidenced by the city’s Hong Kong Policy Statement on the Development of Virtual Assets released in October. The Pacific WaterDrip Digital Asset Fund I will focus on seed wheels and private rotating investments in early-stage blockchain projects. It includes blockchain infrastructure, decentralized financial applications, Web3 SaaS service tools, metaphysics, and NFT applications. On the other hand, the Pacific Waterdrips Digital Assets Fund II will invest in a consensus-based digital asset based on the POS mechanism. It will use financial instruments like derivatives to control and lock profits during extreme unilateral situations in the market.
China Taipei Investment Management Ltd. and Waterdrip Capital have launched the Pacific WaterDrip Digital Asset Fund I and Pacific Waterdrips Digital Assets Fund II, respectively, with Class 4 securities and Class 9 asset management licenses issued by the Hong Kong Securities Regulation Authority.
Pacific WaterDrip Digital Asset Fund I and II launched in Hong Kong
The new fund will operate in the blockchain-level venture capital market and seek out more innovative and constructive startups and teams. Its team aims to provide solutions that ensure investors’ assets are protected. It will allow access to lucrative primary and secondary markets.
The partnership’s creation of the fund is a key strategic deployment in the virtual asset space. As a result, the Chinese government continues to encourage investment in digital assets. The move also supports Hong Kong’s position as a global hub for virtual assets.
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As a subsidiary of China Pacific Insurance Group Ltd, China Taipei Investment Management Ltd serves as an insurance capital asset allocation factor with a global view. Moreover, it provides asset management solutions for traditional and alternative asset classes.
In addition, this Pacific Insurance Investment Management Hong Kong Branch and Waterdrop Capital partnership aims to provide investors with a wide range of investment opportunities in the digital asset space. With Hong Kong’s promise to be open and helpful to entrepreneurs from around the world who are making virtual assets, the creation of the fund through a partnership strengthens the city’s position as a global hub for virtual assets.
