20 Oct 2025

"Charles Russell Speechlys Advises Token Bay Capital on Establishing New Crypto PE/VC Fund"

"Charles Russell Speechlys has advised Token Bay Capital, a venture capital fund manager focused on crypto and blockchain, on the establishment of Fund II, a crypto PE/VC fund structured as an ADGM limited partnership. Fund II will invest in private equity within the Web 3.0/blockchain ecosystem, following the model of Token Bay Capital I. The advisory team included partners from both the Hong Kong and Dubai offices of Charles Russell Speechlys."

Charles Russell Speechlys advised Token Bay Capital, a venture capital fund manager specializing in crypto and blockchain, on the establishment of a crypto private equity/venture capital fund structured as an ADGM limited partnership, named Fund II. This fund aims to invest in the private equity of companies operating within the Web 3.0/blockchain ecosystem, following the precedent set by Token Bay Capital I, a Hong Kong LPF. The Charles Russell Speechlys team was led by Gaven Cheong, a partner based in Hong Kong, with support from Didi Chan and Karen Austin from the firm’s financial services regulation and funds team, serving as international lead counsel. Additionally, the firm’s Dubai corporate team, led by Alex Reid and Mo Nawash, provided guidance on ADGM law.
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