TechFlow news — Cobo, a digital asset custody solutions provider, announced a partnership with Waterdrip Investments and CPIC Investment Management (Hong Kong) Co., Ltd. to provide custody services for the Pacific Waterdrip Digital Asset Fund. Waterdrip Investments is the Hong Kong subsidiary of Waterdrip Capital Group.
In 2023, CPIC Investment Management (Hong Kong) and Waterdrip Investments announced plans to jointly launch two digital asset funds: Pacific Waterdrip Digital Asset Fund I, a venture fund investing in early-stage blockchain projects through seed and private rounds; and Pacific Waterdrip Digital Asset Fund II, a POS Token Yield Enhancement Fund focusing on secondary markets by primarily holding digital assets based on Proof-of-Stake consensus mechanisms. The primary target investors for both funds include institutional investors such as corporations and family offices, as well as high-net-worth individuals. In January 2024, CPIC Investment Management (Hong Kong) announced it would serve as investment advisor and distributor for a new Cayman-domiciled fund focused on secondary market investments in mainstream virtual assets such as Bitcoin (BTC).
This collaboration further demonstrates strong trust from traditional financial institutions in Cobo’s custody services, highlighting Cobo's robust capabilities in providing secure solutions for traditional organizations and compliant funds in Hong Kong seeking exposure to digital asset investments.
