Singapore | Leading financial centre in Asia
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










BVI Court Issues Order to Freeze $1.1 Billion Assets of Collapsed $3 Billion Crypto Hedge Fund Three Arrows Capital Co-Founder Zhu Su, Co-Founder Kyle Davies & His Wife Kelly Chen, Three Arrows Filed for Bankruptcy in BVI & Teneo Appointed to Oversee Liquidation with Creditors Owed $3.3 Billion

21st December 2023 | Hong Kong

A British Virgin Islands (BVI) court has issued an order to freeze (transfer, sell) $1.1 billion assets of collapsed $3 billion crypto hedge fund Three Arrows Capital co-founder Zhu Su, co-founder Kyle Davies & his wife Kelly Chen.  Three Arrows had filed for bankruptcy in BVI and Teneo was appointed to oversee the liquidation with creditors owed $3.3 billion.  Earlier in December 2023, Zhu Su was questioned in Singapore court (Civil case) for information on the fund failure & location of assets.  In September 2023, Zhu Su had been arrested at Singapore Changi Airport and sentenced to 4 months jail in a committal order for not complying with court order.  Joint liquidator Teneo had applied for committal orders against Zhu Su & Kyle Davies due to their failure to comply with court order to cooperate with investigations in Three Arrows Capital.  Earlier in September 2023, Singapore central bank Monetary Authority of Singapore (MAS) issued a 9-year ban on Three Arrows Capital CEO Zhu Su and Chairman Kyle Livingston Davies for providing false information, failure to notify changes on directorship & shareholdings, exceeding AUM limit (Assets under Management) for registered fund management company, failure to notify appointment of Arthur Cheong as portfolio manager & failure to implement risk management framework.   More info below:

“ BVI Court Issues Order to Freeze $1.1 Billion Assets of Collapsed $3 Billion Crypto Hedge Fund Three Arrows Capital Co-Founder Zhu Su, Co-Founder Kyle Davies & His Wife Kelly Chen, Three Arrows Filed for Bankruptcy in BVI & Teneo Appointed to Oversee Liquidation with Creditors Owed $3.3 Billion “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
23rd July Hong Kong | 25th July Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 23rd July 2024 in Hong Kong, 25th July 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
16th Oct Hong Kong | 23rd Oct Singapore

Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

Collapsed $3 Billion Crypto Hedge Fund Three Arrows Capital Co-Founder & CEO Zhu Su Questioned in Singapore Court in Civil Case for Information on Fund Failure & Location of Assets, Arrested at Singapore Changi Airport & Sentenced to 4 Months Jail in Committal Order for Not Complying with Court Order

Singapore | Leading financial centre in Asia

14th December 2023 – Collapsed $3 billion crypto hedge fund Three Arrows Capital co-founder & CEO Zhu Su has been questioned in Singapore court (Civil case) for information on the fund failure & location of assetsIn September 2023, Zhu Su had been arrested at Singapore Changi Airport and sentenced to 4 months jail in a committal order for not complying with court order.  Joint liquidator Teneo had applied for committal orders against Zhu Su & Kyle Davies due to their failure to comply with court order to cooperate with investigations in Three Arrows Capital.  Earlier in September 2023, Singapore central bank Monetary Authority of Singapore (MAS) issued a 9-year ban on Three Arrows Capital CEO Zhu Su and Chairman Kyle Livingston Davies for providing false information, failure to notify changes on directorship & shareholdings, exceeding AUM limit (Assets under Management) for registered fund management company, failure to notify appointment of Arthur Cheong as portfolio manager & failure to implement risk management framework.   More info below:

 

 

Collapsed $3 Billion Crypto Hedge Fund Three Arrows Capital Co-Founder & CEO Zhu Su Arrested at Singapore Changi Airport & Sentenced to 4 Months Jail in Committal Order for Not Complying with Court Order, Joint Liquidator Teneo Applied for Committal Orders Against Zhu Su & Kyle Davies Due to Failure to Comply with Court Order to Cooperate with Investigations in Three Arrows Capital 

Singapore | Leading financial centre in Asia

30th September 2023 – Collapsed $3 billion crypto hedge fund Three Arrows Capital co-founder CEO Zhu Su had been arrested at Singapore Changi Airport and sentenced to 4 months jail in a committal order for not complying with court order.  Joint liquidator Teneo had applied for committal orders against Zhu Su & Kyle Davies due to their failure to comply with court order to cooperate with investigations in Three Arrows Capital.  Earlier in September 2023, Singapore central bank Monetary Authority of Singapore (MAS) issued a 9-year ban on Three Arrows Capital CEO Zhu Su and Chairman Kyle Livingston Davies for providing false information, failure to notify changes on directorship & shareholdings, exceeding AUM limit (Assets under Management) for registered fund management company, failure to notify appointment of Arthur Cheong as portfolio manager & failure to implement risk management framework.   More info below:

 

 

Singapore MAS Issues 9-Year Ban on Three Arrows Capital CEO Zhu Su & Chairman Kyle Livingston Davies for Providing False Information, Failure to Notify Changes on Directorship & Shareholdings, Exceeding AUM Limit for Registered Fund Management Company, Failure to Notify Appointment of Arthur Cheong as Portfolio Manager & Failure to Implement Risk Management Framework

Singapore | Leading financial centre in Asia

15th September 2023 – Singapore central bank Monetary Authority of Singapore (MAS) has issued 9-year ban on Three Arrows Capital CEO Zhu Su and Chairman Kyle Livingston Davies for providing false information, failure to notify changes on directorship & shareholdings, exceeding AUM limit (Assets under Management) for registered fund management company, failure to notify appointment of Arthur Cheong as portfolio manager & failure to implement risk management frameworkSingapore MAS: “The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders (POs) against Mr Zhu Su and Mr Kyle Livingston Davies for contraventions of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).  Mr Zhu was the Chief Executive Officer and Director of Three Arrows Capital Pte Ltd (TACPL), while Mr Davies was the Chairman and Director.  Under the POs, which took effect from 13 September 2023, Mr Zhu and Mr Davies will be prohibited from performing any regulated activity and from taking part in the management of, acting as a director of or becoming a substantial shareholder, of any capital market services firm under the SFA.”  More info below:

Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime), MAS: “Senior management of fund managers are required to implement robust risk management measures to protect the interest of investors. MAS takes a serious view of Mr Zhu’s and Mr Davies’ flagrant disregard of MAS’ regulatory requirements and dereliction of their directors’ duties. MAS will take action to weed out senior managers who commit such misconduct.”

 

 

Singapore MAS Issues 9-Year Ban on Three Arrows Capital CEO Zhu Su & Chairman Kyle Livingston Davies for Providing False Information

Singapore | Leading financial centre in Asia

14th September 2023 – The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders (POs) against Mr Zhu Su and Mr Kyle Livingston Davies for contraventions of the Securities and Futures Act 2001 (SFA) and Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).  Mr Zhu was the Chief Executive Officer and Director of Three Arrows Capital Pte Ltd (TACPL), while Mr Davies was the Chairman and Director.

Under the POs, which took effect from 13 September 2023, Mr Zhu and Mr Davies will be prohibited from performing any regulated activity and from taking part in the management of, acting as a director of or becoming a substantial shareholder, of any capital market services firm under the SFA.

Following MAS’ reprimand of TACPL in June 2022 for (i) providing false information to MAS; (ii) failing to notify MAS about changes to Mr Zhu’s and Mr Davies’ directorship and shareholdings; and (iii) exceeding the assets under management threshold allowed for a registered fund management company, MAS has conducted further investigations into TACPL, Mr Zhu and Mr Davies. MAS uncovered the following additional SFA and SFR contraventions committed by TACPL between August 2020 and January 2022:

  • Failure to notify MAS of employment of representative: Between August 2020 and September 2021, TACPL employed Mr Cheong Jun Yoong Arthur to be a portfolio manager, to perform fund management activities on behalf of TACPL.  In breach of the SFR, TACPL failed to inform MAS within the required timeframe of Mr Cheong’s employment.
  • Provision of false information to MAS: In January 2022, TACPL falsely represented to MAS that TACPL had not notified MAS about Mr Cheong’s employment because he did not carry out any regulated activity. In fact, Mr Cheong had performed fund management activity on TACPL’s behalf between August 2020 and September 2021.
  • Failure to have in place appropriate risk management framework: TACPL did not have in place a risk management framework to identify, monitor, and address risks associated with the cryptocurrency and digital asset investments under its management.

As directors of TACPL, Mr Zhu and Mr Davies were primarily responsible for ensuring that TACPL complied with regulatory requirements under the SFA and SFR. MAS’ investigation showed that they had failed to discharge their duties and were responsible for TACPL’s breaches.

 

 

Liquidators of $3 Billion Crypto Hedge Fund Three Arrows Capital Propose to Recover $1.3 Billion from Co-Founders Singaporean Zhu Su & American Kyle Davies, Took on Larger Leverage after Suffering Losses in 2022 May with the Firm Already Insolvent or Bankrupt

30th June 2023 – Liquidators of $3 billion crypto hedge fund Three Arrows Capital are proposing to recover $1.3 billion directly from co-founders Singaporean Zhu Su & American Kyle Davies, taking on larger leverage in the hedge fund after suffering losses in 2022 May with the firm already insolvent or bankrupt.  Three Arrows Capital is founded by 2 former Credit Suisse traders & crypto billionaire Zhu Su (Age 35) and Kyle Davies (Age 35) in 2012 in a kitchen table in their apartment.  The fund had over $3 billion worth of cryptocurrencies under management.   Teneo, one of the appointed liquidators of Three Arrows Capital, had been appointed to manage the sale & liquidation of Three Arrows Capital remaining holdings (tokens, equity stakes in crypto start-ups).   Earlier in 2023 June, Three Arrows Capital 37 NFTs (Non-fungible tokens) bought at $15.5 million had been sold for $10.9 million in a Sotheby’s auction in New York (Announced by Sotheby’s 15/6/23), with Three Arrows Capital founders Singaporean Zhu Su and American Kyle Davies currently living in Bali (Indonesia) and had launched an open exchange for investors to buy & sell crypto bankruptcy claims.  In 2021, Three Arrows Capital had acquired the 37 NFTs for $15.5 million.  In July 2022, Three Arrows Capital had been ordered into liquidation by a BVI Court (British Virgin Islands), after failing to meet creditors demand for payment including $665 million from Voyager Digital.   The former Credit Suisse traders & founders of $3 billion crypto fund Three Arrows Capital, had also been reported to spent $50 million on downpayment for a yacht (Italy) and S$48.8 million on a bungalow in Singapore, according to a document published by the appointed liquidator Teneo. More info below.

 

 

Collapsed $3 Billion Crypto Hedge Fund Three Arrows Capital 37 $15.5 Million NFTs Sold for $10.9 Million in Sotheby’s Auction in New York, Founders Singaporean Zhu Su & American Kyle Davies Currently Living in Bali & Launched Open Exchange for Investors to Buy & Sell Crypto Bankruptcy Claims

16th June 2023 – Collapsed $3 billion crypto hedge fund Three Arrows Capital 37 NFTs (Non-fungible tokens) bought at $15.5 million had been sold for $10.9 million in a Sotheby’s auction in New York (Announced by Sotheby’s 15/6/23), with Three Arrows Capital founders Singaporean Zhu Su and American Kyle Davies currently living in Bali (Indonesia) and had launched an open exchange for investors to buy & sell crypto bankruptcy claims.  In 2021, Three Arrows Capital had acquired the 37 NFTs for $15.5 million.  In July 2022, Three Arrows Capital had been ordered into liquidation by a BVI Court (British Virgin Islands), after failing to meet creditors demand for payment including $665 million from Voyager Digital.   Former Credit Suisse traders & founders of $3 billion crypto fund Three Arrows Capital, had also been reported to spent $50 million on downpayment for a yacht (Italy) and S$48.8 million on a bungalow in Singapore, according to a document published by the appointed liquidator Teneo.  More info below.

 

 

Former Credit Suisse Traders & Founders of $3 Billion Crypto Fund Three Arrows Capital Spent $50 Million on Downpayment for Yacht & S$48.8 Million on Bungalow in Singapore

21st July 2022 – Former Credit Suisse traders & founders of $3 billion crypto fund Three Arrows Capital, had spent $50 million on downpayment for a yacht (Italy) and S$48.8 million on a bungalow in Singapore, according to a document published by the appointed liquidator Teneo.  As of April 2022, Three Arrows Capital had $3 billion of Assets under Management and with the latest filing, owes 27 crypto firms $3.5 billion (Owing Genesis: $2.3 billion).  Earlier in July 2022, Three Arrows Capital had been ordered into liquidation by a BVI Court (British Virgin Islands), after failing to meet creditors demand for payment including $665 million from Voyager Digital.  Three Arrows Capital is founded by 2 former Credit Suisse traders & crypto billionaire Zhu Su (Age 35) and Kyle Davies (Age 35) in 2012 in a kitchen table in their apartment.  The fund had over $3 billion worth of cryptocurrencies under management.  Teneo, one of the appointed liquidators of Three Arrows Capital, will manage the sale & liquidation of Three Arrows Capital remaining holdings (tokens, equity stakes in crypto start-ups).  Separately, the Singapore central bank Monetary Authority of Singapore (MAS) had reprimanded crypto hedge fund Three Arrows Capital for providing false information to MAS (failure to notify change of directorship & shareholders, misleading representation of offshore entity) and exceeding the S$250 million assets under management (AUM) threshold allowed for a registered fund management company (RFMC).  Three Arrows Capital had also failed to inform MAS within the required timeline of changes in the directorships and shareholdings of its directors, Mr Su Zhu and Mr Kyle Livingston Davies.  Three Arrows Capital had also provided misleading information to MAS that it had replaced and shifted the management of its fund to an unrelated offshore entity with effect from 1 September 2021.  This representation was misleading as Three Arrows Capital and the offshore entity shared a common shareholder, Mr Su Zhu.

 

 

Three Arrows Capital

cryptocurrency bitcoin

Three Arrows Capital Ltd. is a hedge fund established in 2012 and focused on providing superior risk-adjusted returns, founded by Su Zhu and Kyle Davies.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Investment ProfessionalAdvisorProfessional InvestorFinancial ProfessionalManagementOthers


    $20 million to $100 million AUM$100 million to $300 million AUM$300 million to $1 billion AUM$1 billion to $10 billion AUM$10 billion to $100 billion AUMMore than $100 billion AUM


    Mailing List / Free TrialMonthly SubscriptionYearly SubscriptionMembershipEvents


    2024 Investment Day Hong Kong 23rd July2024 Investment Day Singapore 25th July2024 Investment Day Hong Kong 4th Sept2024 Investment Day Singapore 11th Sept2024 Family Office Summit Hong Kong 16th Oct2024 Family Office Summit Singapore 23rd Oct / 6th Nov










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleCitigroup to Exit Global Distressed Debt Business & Municipal-Bond Trading Operations, Citigroup with 240,000 Employees Announced Job Cuts & Management Changes in November 2023
    Next articleChina Approves Taikang Life Insurance to Issue China First Perpetual Bond of Up to $2.8 Billion with No Bond Maturity Date, 4% Market Share of Direct Written Premiums in China
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia