A Hong Kong family office AI venture fund is backing a new artificial intelligence vehicle launched by former SenseTime managing director Esther Wong, the founder said. Wong’s firm, 3C AGI Partners, is targeting up to USD100m by March after raising USD50m at a first close in November. The fund will focus on so-called “picks and shovels” AI infrastructure, including hardware and data centres, and will steer clear of application-layer bets that Wong described as overvalued. VMS