Hong Kong billionaire property magnate Adrian Cheng’s investment firm is reportedly raising funds to invest in the crypto space as the sell-off pushed the price of Bitcoin (BTC) and pushes the rest of the digital asset market further down.
According to Bloomberg, C Capital plans to pool $500 million over the next 18 months to invest in Blockchain– to finance investments, loans and private equity.
Citing people familiar with the matter, the report said the company is marketing a $200 million blockchain fund and aims to raise another $300 million for private equity and private equity investments. collect credit strategies.
The company’s chief executive officer and president, Ben Cheng, is bullish on returns even as the crypto winter continues to push prices down for digital assets, including bitcoin, which have fallen below $20,000.
He says that the current economic climate presents an opportunity for the best results, citing that the company’s crypto investments are up 40% in the first half of the year amid the bear market.
“When people are on the defensive, we’re on the offensive … After another 6 to 9 months, it comes back.”
C Capital has invested approximately $1 billion in private companies, digital assets and loans to date. His hedge fund strategy is mostly focused on crypto trading. According to Cheng, the firm refused to accept bids from angel funds and seed-stage companies because of high valuations and limited upside potential.
Source: Crypto News Deutsch