Billionaires’ Family Office Starts AI Fund With Ex-SenseTime MD

A money manager to some of Hong Kong’s richest people is teaming up with a former executive from China’s SenseTime Group Inc. to look for early-stage investments in artificial intelligence.

VMS Group, a multifamily office with more than $4 billion in assets under management, jointly started the venture 3Cap AGI Fund earlier this week with Esther Wong, who spent more than five years running strategic investments as a managing director at Chinese AI giant SenseTime.

Esther Wong

Photographer: Anthony Kwan/Bloomberg

Local conglomerate billionaire families have committed about half of the targeted $150 million, according to Elton Cheung, partner at Hong Kong-based ...