Huobi raises $50 million for four crypto funds

The Huobi exchange, via Huobi Asset Management, the unit of Hong Kong-listed Huobi Technology Holdings, attracted $50 million into four crypto funds. This was reported by journalist Colin Wu.

On April 22, Chinese biggest exchange Huobi HK company has launched its asset management service to three private equity funds that invest in BTC and ETH and one in mining. It has received $50mln and will reach $100mln in the third quarter of this year. https://t.co/AaX8Fzvhhn pic.twitter.com/IbvkSGBQlQ

— Wu Blockchain (@WuBlockchain) April 22, 2021

The company launched a direct investment fund into the mining business, actively managed by a crypto fund with a broad list of assets to acquire, and two funds that will directly buy Bitcoin and Ethereum.

The first fund will target equity participation in companies along the supply chain, from equipment manufacturers for mining cryptocurrencies to operators of mining farms and pools.

The funds will accept capital from professional and accredited investors such as family offices, asset managers, corporations and affluent individuals.

Huobi Technology Holdings received the corresponding approval from the Hong Kong Securities and Futures Commission.

Huobi Asset Management expects to double the assets under management across the four funds by the third quarter of this year.

Earlier, Huobi received a trust company license in the United States.

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