Hong Kong Family Office AI Venture Fund Backs Ex-SenseTime Executive’s USD100m Vehicle

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 Group, which manages more than USD4bn, said the vehicle will pursue a broader “US Plus” mandate, expanding beyond the U.S.-only focus of 3C AGI’s 2023 AI fund.

The Hong Kong family office AI venture fund backing underscores growing interest among wealthy investors in infrastructure-led exposure rather than crowded application trades.