Citigroup Inc.’s venture capital investing department made its first seed investment in a Hong Kong-based digital asset management startup. Citi Ventures co-led a $6 million initial capital investment round for Xalts, which was created by a former HSBC Holdings trader and a former Meta Platforms Inc. executive. Citi Ventures did not reveal the amount of money it invested. Xalts intends to create a number of fund products tied to digital assets, including mutual funds and exchange-traded funds (ETFs) listed on worldwide platforms.
