Du Jun: Reflections and New Chapters of a Twenty-Year Entrepreneurial Journey from Encryption to AI

On June 19, 2025, at the University of Hong Kong, the CEO of a certain group had an in-depth dialogue with the co-founder of the group and the chairman of a certain company, Du Jun. As a doctoral student at the University of Hong Kong, Du Jun shared his original intention to return to campus for further studies, the different strategic layouts of the two companies, and his insights into the encryption financial market in Hong Kong.

Systematic Summary of Twenty Years of Entrepreneurial Experience

In 2024, Du Jun applied for a doctoral program at the University of Hong Kong, coinciding with the twentieth anniversary of his entrepreneurial journey. Looking back at the early days of starting his business in 2004 and his experience of dropping out in 2005 due to entrepreneurship, Du Jun admitted that for the past twenty years he has been "working hard without rest," with very few opportunities for systematic thinking. The year 2024 marks an important turning point, as he hopes to transform the practical experience gained from twenty years of entrepreneurship and investment into a systematic and reusable knowledge system through the doctoral program.

Du Jun stated: "My goal is to distill my practical experiences in entrepreneurship and investment into a methodology, forming a structured tool that I and my team can use." This is not only about personal improvement but also a reflection and sublimation of past experiences. He hopes to outline a replicable knowledge framework from an academic perspective to provide guidance for future entrepreneurship and investment.

Strategic Layout from the Encryption Field to New Technologies such as AI

As a co-founder of a certain company, Du Jun's influence in the encryption field is evident. However, his newly established company demonstrates a more diversified strategic vision. In the conversation, Du Jun elaborated on the differences in positioning, structure, and business direction between the two companies.

As a primary market fund, the company adopts a traditional 5+2 investment cycle, and the return pressure from external limited partners (LPs) restricts its ability to support long-term projects. Du Jun explained, "Some projects may take 8 years, 10 years, or even longer to succeed, and the company's cycle is difficult to fully match." The company is more like a "selector" or a "referee."

In contrast, Du Jun's newly established company resembles a joint family office, with the main funding sourced from Du Jun and another core shareholder. This structure provides the company with greater flexibility, allowing it to avoid the pressure of short-term returns and accompany entrepreneurs with a longer-term perspective. Du Jun emphasized: "Our funding is relatively long-term, it can be for three years, five years, or ten years." The goal of the new company is to be an "accompanying runner" for entrepreneurs.

A certain company's investment portfolio is entirely focused on the encryption field, while the new company's strategy is more diversified. Du Jun revealed that the new company's investment focus has shifted to AI, with encryption projects accounting for only a small part of its portfolio. The new company focuses on AI application layers, especially projects that can generate cash flow, improve efficiency, or optimize processes.

Du Jun candidly stated: "We do not invest in computing power or large models, because with our funding scale and resources in North America, it is difficult to support investments in related tracks." The new company focuses more on the application of AI in real scenarios, such as AI security, AI talent recruitment, AI tax and financial tools, etc. These projects aim for "simple efficiency improvement," closely aligning with market demands, and are intended to capture the best returns during the AI explosion period.

Hong Kong: A Strategic High Ground for Encryption Finance

As a leader in the encryption industry, Du Jun is full of confidence in the layout of the Hong Kong market. He believes that Hong Kong, as a "bridgehead" connecting the mainland and the world, has unique advantages in terms of geographical location and policy environment. In recent years, Hong Kong has introduced a series of friendly policies, including a stablecoin regulatory framework and talent introduction plans, attracting attention from global blockchain enterprises and talent.

Du Jun commented: "The cryptocurrency-related legislation in Hong Kong surpasses the United States in terms of advancement and enforceability." He pointed out that Hong Kong's stablecoin policy provides a clear compliance pathway for industry innovation, and combined with its international advantages, it is expected to nurture new business models.

The team where Du Jun is located landed in Hong Kong as early as 2022 through a listed company and currently has an office while actively applying for relevant licenses. Among them, the financial custody business is the core business direction of the new company in Hong Kong. Du Jun believes that, in conjunction with Hong Kong's stablecoin policy, the custody business is expected to give rise to better business models based on this, injecting new vitality into the encryption financial market.

Conclusion

From twenty years of "dedicated hard work" in entrepreneurship to systematic advanced studies as a PhD at Hong Kong University, Du Jun demonstrates a leader's pursuit of self-iteration in the industry. From founding a certain company to establishing a new one, he has expanded his vision from the encryption field to AI application layers, supporting entrepreneurs with a long-term companionship perspective. At the same time, as an active participant in the construction of Hong Kong's encryption market, Du Jun's insights into local policies and business layout provide important references for the industry. "Keep learning and embrace change to maintain a leading position in a rapidly evolving industry." This may be the most sincere advice from this industry veteran.