VMS Group, an investment manager for some of Hong Kong’s richest families, said in May that it planned to allocate up to US$10 million into funds run by decentralised-finance hedge fund Re7 Capital, which has generated double-digit yield since its launch in July 2021. VMS’ managing partner Elton Cheung said the move into Web3 was in response to client interest after noticing institutional players’ adoption and rising regulatory clarity.

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