Dechert Advises Fore Elite on Securing SFC Approval to Manage Virtual Asset Funds and Launching Its First Virtual Asset Fund

Fore Elite Capital Management Limited (“Fore Elite”) announced that it has obtained regulatory approval from the Hong Kong Securities and Futures Commission (SFC) on January 18, 2022 to manage and launch 100% virtual asset funds. Dechert represented Fore Elite in securing the regulatory approval, which is only the fourth such approval to be issued by the Hong Kong regulator.

Dechert has also advised Fore Elite on the formation and management of its first virtual asset fund, Fore Elite Flagship Fund, which has closed US$100 million seed funding from its Founder and CEO Ejoe Ye and exchange operator Huobi Group on February 28, 2022. This actively managed multi-strategy virtual asset fund will target investments from professional investors only.

Fore Elite is Hong Kong asset management company established by Ejoe Ye in 2017.

The Dechert team that worked on these matters was led by partner Michael Wong with support from associate Jason Chan in Hong Kong. Dechert’s team in Hong Kong and the U.S. has market-leading crypto assets experience, including the principal aspects that are relevant to the crypto ecosystem.

About Dechert

Dechert is a leading global law firm with 22 offices around the world. The firm advises on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.