Billionaires' Family Office Starts AI Fund With Ex-SenseTime MD.

VMS Group, a money manager for wealthy individuals in Hong Kong, has partnered with Esther Wong, a former executive from China's SenseTime Group Inc., to create the 3Cap AGI Fund. The fund will focus on early-stage investments in artificial intelligence (AI). Local billionaire families have already committed half of the targeted $150 million for the fund. This investment in AI follows the success of ChatGPT, which attracted over $21 billion in investments in the first nine months of 2023. VMS Group also plans to raise a $300 million fund in 2024 to invest in healthcare and tech businesses supporting China's aging population and digital transition. [Extracted from the article]