C Ventures, backed by third-generation tycoon Adrian Cheng, has rebranded and launched two funds, including one focused on digital assets.
C Ventures – co-founded by New World Development’s Adrian Cheng, ex-Bank of America Merrill Lynch executive Ben Cheng and veteran investor Clive Ng – has rebranded itself as C Capital, according to a statement. This marks what it calls a new phase of growth and global expansion from a venture capital firm to a «mature multi-asset investment firm».
As part of these growth ambitions, C Capital has also launched two new funds – one focused on credit and another on digital assets, primarily through crypto trading.
«While recognizing credit fund as an attractive asset class for the current market, the launch of our new blockchain hedge fund also reflects our positive outlook for digital assets’ great potential,» said Ben Cheng, who is also president and chief executive of C Capital.
Fundraising Plans
Currently, C Capital has around $1 billion invested in private companies, digital assets and credit.
According to a «Bloomberg» report citing unnamed sources, there are plans to raise $500 million over the next 18 months with $200 million for the blockchain fund and $300 million for private equity and private credit strategies next year.
