ChainCatcher reported that according to Fortune, in May last year, Inception Capital founder David Gan informed investors that his father was under investigation and went to China, after which he lost contact for several months.
During this time, investors were unhappy with his “disappearance” and voted to close the fund. In late June, Gan reappeared and agreed to give up some key responsibilities. Gan said the fund was doing well and he had resumed his daily work.
Gan was reportedly named to the Asia 30 Under 30 list in 2019 for his work as managing director at Huobi Labs. He left Huobi in 2021, raised his first $50 million venture fund backed by notables such as Bill Ackman, Alan Howard, Y Combinator CEO Garry Tan and Galaxy, and closed his second $30 million fund of funds in 2024. Inception has nearly $100 million in assets under management, according to SEC filings.