DeepGreenX Group and Hues Capital Launch $10 Billion USD Fund to Accelerate AI, Green Energy, and Computing Power
9.12.2024 13:00:00 CET | Business Wire | Press release
New DXG-Hues Fund will target innovative enterprises and solutions in these transformative ecosystems worldwide
DeepGreenX Group Inc. (“DeepGreenX,” “DXG,” or the “Company”), an AI-enabled green energy and technology company, and Hues Capital (“Hues”), a leading capital provider enabling financial technology ecosystems, AI, and green energy enterprises, jointly announced the formation of a new $10 billion USD fund (the “Fund”) to drive global advancements in AI, green energy, and computing power and accelerate sustainability initiatives worldwide.
DeepGreenX and Hues will each hold a 50% stake and act as co-general partners in the $10 billion USD DXG-Hues parent fund, which will be based in the EU and comprise two $5 billion USD sub-funds: the DXG-Hues AI Computing Infrastructure Fund and the DXG-Hues AI Energy Fund. The former will focus on global investments in AI computing power and green energy infrastructure projects, while the latter will target emerging enterprises in the fields of AI ecosystems, fintech, and green energy.
This initiative will bring together seasoned professionals with deep expertise in technology and finance. The Fund’s leadership team will include Miao Wei, former Vice President of Alibaba Cloud, and Dr. Chen Jidong, former Vice President of Ant Group's Digital Technology Division and Chief Product Officer of Security Technology. In connection with the formation of the Fund, Hues founder, Chairman, and Chief Executive Officer Dr. Jim Lai will join the Board of Directors of DeepGreenX.
Dr. Lai was previously Vice President of Tencent, where he led the Financial Internet Technology (FiT) division and contributed to the creation of WeChat Pay, WeChat Red Envelope, and the management of Tencent’s trillion-yuan Wealth Management Platform. He also played a critical role in Tencent's investment strategy, investing into dozens of WeChat Pay ecosystem companies founded by visionary entrepreneurs. He collaborated on incubating and scaling numerous industry-leading unicorns, many of which have gone public, including those focused on AI-driven big data and financial technology, as well as world-leading financial institutions. In his role as a director for several post-investment companies on behalf of Tencent, Dr. Lai has been instrumental in fostering collaboration and synergy within Tencent’s WeChat Pay ecosystem. These companies have also consistently achieved unicorn status, gone public, and generated significant returns for their investors.
“We are thrilled to launch this new Fund with Hues, which is a product of our shared vision that new, innovative capital sources are required for these new, innovative ecosystems. With this collaboration, we are taking a bold and strategic step forward in harnessing AI-driven computing power, advancing sustainable energy solutions, and catalyzing innovative financial systems,” said Barclay Knapp, CEO of DeepGreenX. “We believe this Fund will provide substantial financial resources to high-impact enterprises and projects, accelerating the transition to a global green economy while promoting long-term sustainability.”
DeepGreenX is a rapidly developing international platform company connecting green energy, nature-based and real-world assets (RWA), sustainable computing power, and AI developer communities to new-era digital trading and banking systems. The Company deploys an AI platform-as-a-service (AI PaaS) model to extract and convert sustainability, RWA, and other data into verified digital financial instruments such as renewable energy certificates (REC), tokens, and its own-branded DXG Certificates, which the Company then transacts and monetizes on digital trading and banking systems on behalf of its enterprise clients. Alongside its platform, DeepGreenX is facilitating the synergistic development of human intelligence plus AI applications via a 190,000-person strong AI developer community.
“Hues’ depth of expertise will be instrumental in supporting DeepGreenX’s efforts to establish and operate a global CBDC clearing network,” said Dr. Lai. “This collaboration will also strengthen strategic integration across both companies’ ecosystems, spanning portfolios in AI, green energy, and computing power.”
Hues boasts a foundation of global institutional LPs, with a mission to enable large-scale financial technology ecosystems, AI technology, and green energy enterprises to scale internationally. It seeks to build a globally integrated ecosystem that bridges AI, financial technology, and sustainable energy solutions. It is led by Dr. Lai, former founding Chairman of Fusion Bank, with stakeholders such as Tencent, the Hong Kong Stock Exchange, and ICBC (Asia).
About DeepGreenX
Founded in 2020 and headquartered in Seoul, DeepGreenX Group Inc. is a digital transformation company providing AI and financialization solutions for sustainability initiatives and real-world assets worldwide. With developing operations in 20 cities across four continents, DeepGreenX employs proprietary AI technology and a PaaS model to capture and verify attractive data assets, digitally convert those assets into digital financial products, and then transact with them on global digital trading and banking platforms on behalf of its enterprise customers. For more information on DeepGreenX, visit: www.DeepGreenX.com.
About Hues Capital
Founded in 2023, Hues Capital is a PE fund management company with an internet background, aimed at helping entrepreneurs develop their own companies and businesses in the internet ecosystems of China, Japan, and Southeast Asia. The founder and team of Hues Capital have created the largest mobile payment ecosystem covering the world, incubating and empowering numerous successful unicorn enterprises in the FinTech industry. The current investment areas of Hues Capital mainly include three directions: FinTech, AI, Supercomputing Data Center and New energy EV.
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