Chinese state insurance firm launches two crypto funds in Hong KongChina Pacific Insurance Investment Management (Hong Kong) Co., Ltd., and Waterdrip Capital have jointly launched two digital asset funds in Hong Kong, marking a significant move into the world of crypto by a major Chinese state-owned insurance firm.
The funds, Pacific Waterdrip Digital Asset Fund I and II, are aimed at providing institutional investors, family offices, and high-net-worth individuals with more diversified and innovative investment options in the virtual asset space.
Hong Kong’s policy declaration on cryptocurrencies
In October last year, Hong Kong, China issued the “Policy Declaration on the Development of Virtual Assets in Hong Kong”, which demonstrated Hong Kong’s determination to become a global virtual asset center.
The declaration clarified the city’s focus on the development of virtual assets and pointed out that virtual assets are already indispensable in the global market.
As an international financial center, Hong Kong will take an open and compatible attitude towards global innovators engaged in virtual asset business.
The policy declaration sent a strong signal to global investors and entrepreneurs that Hong Kong will become a global virtual asset center.
A Step into Crypto by China Pacific Insurance Investment Management
The move by China Pacific Insurance Investment Management (Hong Kong) Co., Ltd. and Waterdrip Capital into crypto comes against the backdrop of the Hong Kong government’s policy to promote the development of the virtual asset industry.
Pacific Waterdrip Digital Asset Fund I will primarily invest in seed and private equity round investments of early blockchain projects, including blockchain infrastructure, decentralized financial applications, Web3 SaaS service tools, Metaverse, and NFT applications.
The fund team will continue to work in the first-level blockchain venture capital market, striving to discover more innovative and constructive start-ups and teams.
Pacific Waterdrip Digital Asset Fund II will mainly hold digital assets with Proof of Stake (POS) as the consensus mechanism. The fund will use decentralized on-chain pledges, timely replacement of positions, and financial instruments such as corresponding derivatives to enhance returns, control risks, and lock in profits in extreme unilateral market situations.
China Pacific Insurance Investment Management (Hong Kong) Co., Ltd. holds Type IV (advising on securities) and Type IX (asset management) licenses from the Hong Kong Securities Regulatory Commission.
The parent company of CPIC Asset Management Hong Kong is China Pacific Insurance Group Co., Ltd. and Pacific Asset Management Co., Ltd., a subsidiary of the group company.
CPIC Asset Management Hong Kong leverages its asset allocation genes for insurance capital and provides clients with various asset management products spanning traditional assets and emerging assets around the three pillars of fixed income, equity, and alternative investments.
Waterdrip Capital is an international investment institution focusing on the vertical field of blockchain. The institution is committed to becoming an organic bridge between the traditional financial market and the blockchain ecology.
Waterdrip Capital has invested in more than 100 blockchain projects at home and abroad since its establishment five years ago, and continues to bring substantial returns to investors.
The cooperation on digital asset funds between China Pacific Insurance Investment Management (Hong Kong) Co., Ltd. and Waterdrip Capital is aimed at combining the expertise of the two institutions to provide investors with legally compliant and risk-controlled digital asset fund products. The safety of funds is guaranteed, while investors can benefit from the primary and secondary markets of digital assets.
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