University of Hong Kong Dialogue: Discussing Entrepreneurial Experience, Technology Investment, and Encryption Finance

On June 19, 2025, Jessica Yang, CEO of MetaEra, held an in-depth dialogue with the co-founder of a well-known investment institution and Du Jun, chairman of a certain group, at the University of Hong Kong. As a student in the doctoral program at the University of Hong Kong, Du Jun shared his original intention to return to school for further studies, the strategic layout of different investment institutions, and his insights into the Hong Kong encryption financial market.

Systematic 20 Years of Entrepreneurial Thinking

In 2024, Du Jun applied for a doctoral program at the University of Hong Kong, coinciding with the 20th anniversary of his entrepreneurship. Reflecting on his startup journey that began in 2004 and his experience of dropping out in 2005 due to his entrepreneurial endeavors, Du Jun acknowledges that for the past 20 years, he has been focused on entrepreneurship and investment practices, with little time for systematic thinking. The year 2024 marks an important turning point, as he hopes to transform his 20 years of entrepreneurial and investment experience into a systematic and reusable knowledge framework through the doctoral program.

Du Jun stated: "My goal is to distill the practical experience of entrepreneurship and investment into a methodology, transforming it into a structured tool that I and my colleagues can use." He hopes to outline a replicable knowledge system from an academic perspective to provide guidance for future entrepreneurship and investment.

Strategic Layout from the Encryption Field to New Technologies

As a co-founder of a well-known investment institution, Du Jun has a profound influence in the encryption field. However, his newly established investment group showcases a more diversified strategic vision. In his conversation with Jessica, Du Jun elaborated on the differences between the two investment institutions in terms of positioning, structure, and business direction.

He mentioned that the former, as a primary market fund, adopts a traditional 5+2 investment cycle, and the pressure for returns from external limited partners limits its ability to support long-term projects. "Some projects may take 8 years, 10 years, or even longer to succeed, and the cycle of traditional funds is difficult to fully match," Du Jun explained. Such institutions are more like "selectors" or "judges".

In contrast, the newly established investment group resembles a joint family office, with its main funding sourced from Du Jun and another key shareholder. This structure provides greater flexibility, as there is no pressure for short-term returns, allowing it to support entrepreneurs from a long-term perspective. "Our funds are relatively long-term, three years, five years, or even ten years, it doesn’t matter," Du Jun emphasized, stating that the goal of the new institution is to be an "accompanying runner" for entrepreneurs.

In terms of investment focus, the former is 100% concentrated on the encryption field, while the new institution's strategy is more diversified. Du Jun revealed that the new institution's investment focus has shifted to AI, with encryption projects only accounting for a small portion of its portfolio. They are focusing on AI applications, especially projects that can generate cash flow, improve efficiency, or optimize processes.

"We do not invest in computing power or large models, because with our capital size and resources in North America, we are not sufficient to support investments in the corresponding tracks." Du Jun admitted that new institutions are more focused on the application of AI in practical scenarios, such as AI security, AI talent recruitment, AI taxation, and financial tools. These projects aim for "simple efficiency improvement," closely aligned with market demand, and aim to capture the best returns during the AI explosion period.

Hong Kong: A Strategic High Ground for Encryption Finance

As a leading figure in the encryption industry, Du Jun is confident in the layout of the Hong Kong market. He believes that Hong Kong, as a "bridgehead" connecting the mainland and the global market, has unique advantages in terms of geographical location and policy environment. In recent years, Hong Kong has introduced a series of friendly policies, including a regulatory framework for stablecoins and a talent introduction plan, attracting the attention of global blockchain enterprises and talent.

"The legislation related to cryptocurrency in Hong Kong surpasses that of the United States in terms of advancement and enforceability," Du Jun commented. He pointed out that Hong Kong's stablecoin policy provides a clear compliance path for industry innovation, and combined with its international advantages, it is expected to foster new business models.

The team led by Du Jun established a presence in Hong Kong as early as 2022 through a listed company, and currently has an office and is actively applying for relevant licenses. Among them, the financial custody business is their core business direction in Hong Kong. Du Jun believes that, combined with Hong Kong's stablecoin policy, the custody business is expected to give rise to better business models, injecting new vitality into the encryption financial market.

Conclusion

From 20 years of entrepreneurial practice to returning to campus for systematic further education, Du Jun demonstrates a leader's pursuit of self-iteration in the industry. From leading a well-known investment institution to establishing a new investment group, he has expanded his vision from the encryption field to the AI application layer, supporting entrepreneurs with a long-term companionship perspective. At the same time, as an active participant in the construction of the Hong Kong encryption market, Du Jun's insights into local policies and business layout provide important references for the industry. "Keep learning, embrace change, and only then can you continue to lead in a rapidly evolving industry." This may be the most sincere advice given by this seasoned investor.