Fore Elite Capital has raised $100 million for its fund investing in virtual assets, after clearing licensing conditions with the Hong Kong Securities and Futures Commission in January, company says.

• The funding was secured from Chinese exchange operator Huobi Group and Fore Elite founder Yizhou Ye, the asset manager said in a statement.
• Updated license allows Fore Elite to issue a fund with 100% virtual assets in accordance with SFC standards.
• It’s among the few funds granted such approval from Hong Kong regulators, alongside Venture Smart Asia Ltd. and Huobi.
• Fore Elite was funded in 2017 by Ye, who graduated from Columbia Business School, according to the statement.

(Quote from Bloomberg terminal)