Hong Kong and Malaysian firms roll out US$150 million tokenised AI infrastructure fund

Hong Kong-based Tykhe Capital Group and Malaysia's Skyvast Digital have launched a US$150 million tokenised fund that offers investors exposure to artificial intelligence infrastructure, using an innovative arrangement designed to share project revenues and boost liquidity.

SKYD Token was "the world's first global-grade AI infrastructure tokenised fund", Tykhe's subsidiary, Pioneer Asset Management, and AI infrastructure developer Skyvast said in a press release on Monday.

The fund will provide investors a direct share in 15 per cent of revenue generated by Skyvast, which builds and operates data centres, off-grid digital campuses and high-performance computing estates. Subscriptions start from US$1,000.

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"This model combines the upside potential of project revenue with the liquidity and accessibility of a tokenised security, all within a structured regulatory framework in Hong Kong," the release said.

The model combines the upside potential of project revenue with the liquidity and accessibility of a tokenised security, according to Tykhe's subsidiary, Pioneer Asset Management. Photo: Handout alt=The model combines the upside potential of project revenue with the liquidity and accessibility of a tokenised security, according to Tykhe's subsidiary, Pioneer Asset Management. Photo: Handout>

The launch comes after Hong Kong unveiled a five-year fintech strategy earlier this month, pledging to advance AI and tokenisation initiatives to strengthen the city's position as a leading digital-finance hub. The move also reflects the rapid growth of tokenised funds globally to capture liquidity, increase efficiency and reduce costs.

"By tokenising a revenue-share agreement, we unlock value that is traditionally locked in private companies," said Luo Xinghua, director of Pioneer Asset Management. "We see this as the first killer application for Web3 - an application that serves the real economy."

SKYD Token was expected to offer exposure to diversified assets that support AI industries, including data centres, energy infrastructure and digital estates built for advanced applications, the release said.

Through the fund, investors could access the "foundation" of AI infrastructure - which involves compute, energy, systems and environments - and earn revenue from growing AI demand in Southeast Asia, said Lim Chee Siong, CEO of Skyvast Digital. "By combining regulated tokenisation with real-world assets, we open participation in energy-integrated AI estates to a wider global audience."

Lim said Hong Kong's robust regulatory environment "makes it the perfect gateway for global investors, while [the Association of Southeast Asian Nations'] cost advantages and strategic neutrality make it an ideal operational base".

Earlier this month, the Hong Kong Monetary Authority unveiled its fintech plan for the next five years, outlining more than 40 initiatives to embed AI in finance, build a financial tokenisation ecosystem, create data and payment infrastructure, and enhance sector-wide resilience.

The city's de facto central bank said it would accelerate the tokenisation of real-world assets and facilitate their settlements using new forms of digital money, like the e-HKD, tokenised deposits and regulated stablecoins. It has begun facilitating real-value transactions using tokenised deposits and digital assets in a pilot set to run through 2026.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved.

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