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Whampoa Group, a Singapore-based family office with investments in leading technology firms, has appointed Sherwin Koh and Tim Tan as co-heads of public markets investments at its digital asset investment arm, Whampoa Digital.
Koh, a self-taught software engineer who is an accountant by training, has
built applications on the Ethereum blockchain and is fluent in multiple coding languages. He has three years of experience in using Web3 technology to augment businesses having previously worked at Immin and Otonomos, companies offering blockchain-based corporate services in the early days of Web3.
Tan has been trading digital assets since 2017 when he joined prominent digital assets trading company QCP Capital as one of its earliest employees. He was also an early participant in decentralized finance (DeFi), and is well-versed in the various DeFi protocols/applications, lending and yield strategies.
"Their experience in the digital assets industry will help Whampoa Digital capitalise on opportunities in public markets to complement our investments in the private equity space," Shawn Chan, CEO of Whampoa Group, said about the appointments.
Related: Whampoa Group Nabs Huobi, Binance Execs for Digital Asset Arm
Big Themes in 2023
Koh and Tan cited central bank digital currencies (CBDCs), as well as the development of the Ethereum blockchain as themes that will drive the digital assets space this year.
"We believe that the launch of CBDCs by major central banks, coupled with sensible regulations, could attract involvement from traditional institutional investors who have largely stayed away from the digital assets,” Koh said.
"We think Ethereum has a very bright future in the long-term due to its strong community and continuing development and upgrades to its network, and this reflects in how we have chosen to position our fund’s portfolio for the long run,” Tan added.
Digital assets focus
Whampoa was co-founded by Amy Lee – the daughter of Lee Kim Yew, who is the brother of Singapore’s founding Prime Minister Lee Kuan Yew. Amy Lee also served as a senior partner at Lee & Lee, a law firm started by the Lee brothers and Lee Kuan Yew’s wife.
It recently launched its digital assets arm, Whampoa Digital, which aims to invest in and incubate early-stage ventures, in particular those involved in developing blockchain infrastructure and applications that facilitate the mass adoption of Web3 technologies. It aims to deploy about US$100 million in promising start-ups in the Web3 space, the company previously said.
Read more: LKY’s Niece, SG Wealthy Descendants Embrace Crypto Funds
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