Hong Kong Billionaire Family Office Backs $100 Million AI Fund

3C AGI Partners, founded by former SenseTime Group Inc. managing director Esther Wong, is launching an artificial intelligence venture fund backed by a family office that runs money for some of Hong Kong’s richest families.

The fund is targeting as much as $100 million by March, after raising $50 million in a first close in November, Wong said in an interview in Hong Kong. 3C AGI has already deployed money from an initial 2023 AI fund.

Wong said the fund will focus on the “picks and shovels” of AI infrastructure such as hardware and data centers, and ...