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Sep 21, 2022 02:49 PM
BUSINESS

Hong Kong Tycoon-Backed Firm Is Raising $500 Million to Invest in Crypto, PE

Adrian Cheng, CEO of New World Development, at the State Theater in Hong Kong on April 7, 2021. Photo: Bloomberg
Adrian Cheng, CEO of New World Development, at the State Theater in Hong Kong on April 7, 2021. Photo: Bloomberg

(Bloomberg) — C Capital, a firm started by Hong Kong real estate tycoon Adrian Cheng, plans to raise $500 million to invest in blockchain assets, credit and private equity over the next 18 months, betting prices of private companies and digital assets are bottoming out.

Also co-founded by ex-Bank of America Merrill Lynch banker Ben Cheng, the firm is marketing a $200 million blockchain fund and plans to gather about $300 million to invest in private equity and private credit strategies next year, people familiar with the matter said, asking not to be identified discussing fundraising details.   

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