Overview

• Cheng is the founder and executive chairman of ALMAD Group, overseeing its financial and technology investment strategies.
• The company will explore blockchain-related technologies and immersive digital experiences across entertainment, sports, media, healthcare, commercial management and cultural tourism.
• Target markets include mainland China, Southeast Asia and the Middle East, with the firm headquartered in Hong Kong.
• ALMAD plans to globalise the K11 by AC cultural brand, with its Anime IP business already expanding in mainland China and the Middle East.
• The launch announcement disclosed no deal terms, fund size or initial investments, and highlights Cheng’s prior early-stage backing of Xiaohongshu, XPeng and Micro Connect.