According to Foresight News, digital asset custody solution provider Cobo has announced a partnership with Waterdrip Investments and China Pacific Insurance Investment Management (Hong Kong) Limited to provide custody solutions for the Pacific Waterdrip Digital Asset Fund. Waterdrip Investments is the Hong Kong subsidiary of Waterdrip Capital Group.
In 2023, China Pacific Insurance Investment Management (Hong Kong) Limited and Waterdrip Investments announced plans to jointly participate in two digital asset funds. The Pacific Waterdrip Digital Asset Fund I, a venture capital fund, will invest in the primary market and participate in seed and private rounds of early-stage blockchain projects. The Pacific Waterdrip Digital Asset Fund II, a POS token yield enhancement fund, will invest in the secondary market and primarily hold digital assets with POS consensus mechanisms. The main target investors for both funds include institutional investors such as corporations and family offices, as well as high-net-worth individual investors. In January 2024, China Pacific Insurance Investment Management (Hong Kong) Limited announced that it would serve as an investment advisor and distributor for a new Cayman fund focused on secondary market investments in mainstream virtual assets such as Bitcoin (BTC).
