What is the background of Huobi's new owner "Baiyu Capital"?
The peak assets of the Hundred Domains Asia Fund reached 100 million USD, with cryptocurrency assets accounting for nearly 10% at its highest point. Currently, there has been a significant overall drawdown.Author: Mooncake, Blockchain Planet
On October 8, Huobi founder Li Lin stated in his social circle that he has transferred his equity to Hong Kong About Capital, making Hong Kong About Capital the largest shareholder and actual controller.
From now on, Huobi becomes AboutBi, and the once prominent figure Mumu Ge exits the historical stage in silence. Can the Crypto Jews continue the relay and revive the situation?
Chen Yihua
Hong Kong About Capital Management is an asset management company founded by Chen Yihua in 2013. From 2004 to 2013, he was a partner at the well-known domestic private equity firm Jinglin Asset Management. He holds an MBA from the Australian Graduate School of Management and has received the three-year overseas Golden Bull Private Equity Investment Manager (Long/Short Equity Strategy) award.
The directory of About Capital's managers and business representatives obtained from the Hong Kong Securities and Futures Commission is as follows:
Among the two corporate leaders, Chen Yihua (Ted Chen) graduated from the Mathematics Department of Fudan University in Shanghai and began working in Australia in 1990. He is one of the earliest overseas fund managers from China, holding an MBA from the Australian Management School and qualifications as a Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM). Dan Liming graduated from Shanghai University and Shanghai Jiao Tong University and has worked for Hong Kong Xijing Investment and Shenwan Hongyuan Fund.
Both are figures from the Shanghai financial circle and have many years of overseas work experience.
From LinkedIn, it can be seen that Chen has previously interacted with Fosun Group independent director Zhang Huaqiao (who studied in Australia in 1990, while Chen was already working there). Combined with the fact that Fosun founder Liang Xinjun is also heavily investing in the crypto industry, it can be speculated that: Chen Yihua's resources in the Shanghai financial circle should be quite substantial, and this equity transfer may involve connections from major players within Shanghai.
Dan Liming's former employer Shenwan is relatively well-known, and for now, we won't elaborate on it. His employer, Xijing Investment, was one of the earliest overseas funds to obtain QFII qualifications, with Liu Yang as the actual controller, a woman who was the youngest overseas fund manager at Citic International, known as "China's female Buffett," and is very well-known in the Hong Kong financial circle.
About Capital
About Capital Management, Hong Kong About Capital, was registered on September 24, 2013, and its main business is asset management, focusing on investments in the Asia-Pacific market. Address: Room 4001, COSCO Tower, 183 Queen's Road Central, Hong Kong, originally named Beyond Capital (renamed in 2010).
The main business operations under About Capital include the About Asia Special Opportunities Fund.
According to the fund's monthly report, it is evident that About Capital is not a newcomer in the crypto industry. In the January 2021 monthly report, it was mentioned for the first time that the fund had allocated assets to Bitcoin.
In the April 2022 monthly report, the fund mentioned its views on the current crypto market:
As of August 2022, the allocation situation of the About Asia Fund is as follows:
It can be seen that the fund still has a 3.6% allocation to crypto assets.
The fund summary is as follows:
The fund's peak assets reached $100 million, with crypto assets accounting for nearly 10% at its highest. Currently, the overall drawdown is quite severe. Trading crypto still requires caution.
