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Hong Kong's Metalpha Technology Holding Limited has invested NextGen Digital Venture Limited to strengthen institutional access to digital assets.
Metalpha joined forces with NextGen to launch Next Generation Fund I in April 2023. The fund focuses on Grayscale Investments LLC's suite of products.
The investment comes as the fund outperformed Bitcoin's annualized return by over 35%, bolstering the firm's confidence and optimism about its future performance.
"The launch of the NextGen Fund marked the first step by both sides to roll out compliant yet rewarding products together. We look forward to building a more robust partnership going forward,” said Adrian Wang, President and Director of Metalpha Technology Holding Ltd.
Metalpha is one of the largest crypto derivatives solutions providers in Asia and works closely with traditional financial institutions such as family offices as well as crypto mining firms. The firm holds a Type 4 and Type 9 license from the Securities and Futures Commission of Hong Kong.
Type 4 allows the company to advise on securities whilst a Type 9 license is defined by the SFC as real estate investment scheme management or securities or futures contracts management.
Leveraging Hong Kong Type 9 license, NextGen is committed to providing secure and compliant cryptocurrency investment opportunities. NextGen aims to be the premier platform in Asia for providing traditional finance with exposure to cryptocurrencies.