Amber Group was founded in 2017 by Michael Wu, Tony Yuhao He, Thomas Zhu, Tiantian Kullander, Junwei Huo, Luke Peijiu Li and Wayne Huo , a team of finance professionals formerly of Morgan Stanley, Goldman Sachs and Bloomberg . The Hong Kong-based firm has evolved from a quantitative trading operation into a multi-faceted crypto financial services provider. Amber Group has raised $628 million in funding from investors like Temasek, Paradigm Capital and Pantera Capital, with a current valuation of $3 billion as of early 2022. The firm reached $1 billion in assets under management (AUM) by April 2021 , though specific current AUM figures are not publicly disclosed.
Amber operates as both a trading firm and venture investor, providing liquidity, market-making, asset management, and lending services to institutional clients and high-net-worth individuals. The company provides trading and asset management services to 500 institutional clients, including family offices, funds and high-net-worth individuals . The firm maintains a presence across Hong Kong, Taipei, Seoul, Vancouver, and Singapore, with more than 330 employees worldwide as of 2021.
Notable investments
Amber Group has made 103 investments so far , primarily focused on DeFi infrastructure and Web3 projects. According to portfolio databases, 46.43% of Amber Group's investments are DeFi projects , with additional exposure to infrastructure, Web3, CeFi, and NFT sectors. Recent investments documented in late 2025 include Nexton (AI restaking infrastructure), Bitlight Labs (Bitcoin RGB developer), and AllScale (stablecoin neobank). The firm also participated in IoTeX's $50 million raise to accelerate DePIN ecosystem growth. Public information about specific investment outcomes, valuations, or exit returns for individual portfolio companies remains limited.
Team
Michael Wu serves as Co-Founder and Co-CEO of Amber Group . Before co-founding Amber Group, Michael was a portfolio manager at Arete Capital Partners and prior to that, he was an FX & Rates trader at Morgan Stanley . Michael holds a bachelor's degree in economics from Dartmouth College . Thomas Zhu serves as Co-Founder and CTO , while Wayne Huo is a co-founder and served as chief operating officer . Tragically, co-founder Tiantian Kullander (TT) passed away in 2022. Managing Partner Annabelle Huang leads the investment team and frequently represents the firm at industry events.
Recent activity
Amber Group has faced significant challenges over the past 18 months. While the firm continues to make investments and participate in industry events, public reporting on its operational status has been sparse. The company restructured its retail-facing business into Amber Premium, which is now a publicly listed company on Nasdaq as of recent developments. Amber has maintained its presence at major crypto conferences and continues partnerships with projects like Pendle for fixed-yield products. The firm's investment activity remains consistent, with multiple deals announced throughout 2025 in DeFi infrastructure and restaking protocols.
Amber Group operates in an intensely competitive environment facing established exchanges like Coinbase and Binance, as well as fellow trading firms and liquidity providers. The broader 2022-2023 crypto downturn tested many firms in the space, though Amber has remained operational through this period. The firm's venture portfolio performance is difficult to assess publicly given the opacity around specific investment returns and exits. With 56 documented portfolio investments and 15 lead deals, Amber maintains an active presence in crypto venture capital, though comprehensive outcome data for investors remains unavailable. The path forward depends on sustained market recovery and the firm's ability to navigate ongoing regulatory scrutiny across multiple jurisdictions.
