Vision Investment Management is establishing the Vision Angel Fund, which will provide seed capital for new hedge funds.
The job of constructing the new fund has been given to Julius Wang, who has joined Vision as a managing director and member of the board. Vision has seen a few defections lately but is rebuilding and remains spearheaded by Asian fund of fund industry doyens, Jerry Wang and James Chen.
Wang’s job at Vision will be to devise and structure the fund. Therefore at this formative stage there are no specific details of how the Angel fund will operate, its target size, putative fee structure, or what percentage of the business a hedge fund manager will have to hand over in return for Vision’s involvement. More details will emerge about the new fund by the beginning of the third quarter.
