Singapore Villa Owned by Crypto Hedge Fund Co-founder Converted into Urban Farm
The Singapore villa and gardens owned by Su Zhu, co-founder of the collapsed cryptocurrency hedge fund Three Arrows Capital (3AC), has been transformed into an urban farm. The farm is now being run by Su Zhu’s wife Evelyn Tao’s company, Abundant Cities. Since the beginning of the year, the company has been offering guided tours and private dining at the luxurious bungalow on Yarwood Avenue.
Su Zhu and his wife purchased the villa for $35.6 million in March 2022. However, following the cryptocurrency market crash and 3AC’s subsequent bankruptcy, Su Zhu expressed interest in selling the property. It’s important to note that the villa is not part of 3AC’s liquidated assets.
Abundant Cities: Research and Development Headquarters
Evelyn Tao holds a Ph.D. in biology and has previously worked at prestigious research institutions in Singapore. The Yarwood Homestead, as the bungalow is now called, has undergone a transformation into an urban farm known as Abundant Cities. The farm focuses on agriculture and aquaculture, producing local vegetables, herbs, fruits, fish, chickens, and ducks. It serves as Abundant Cities’ research and development headquarters.
Three Arrows Capital’s Bankruptcy and Legal Troubles
Three Arrows Capital (3AC), once one of the largest crypto market hedge funds, filed for bankruptcy in July 2022 after the collapse of the Terra ecosystem. According to court documents, 3AC owes 27 crypto companies a total of $3.5 billion.
In recent news, Su Zhu was arrested at Singapore’s Changi Airport while attempting to leave the country. He has also received a four-month prison sentence for failing to cooperate with bankruptcy proceedings. Kyle Davies, the other co-founder of 3AC, also faces a similar sentence but his whereabouts are currently unknown.
In response to the collapse of 3AC, the Monetary Authority of Singapore has banned Su Zhu and Kyle Davies from participating in regulated business activities in the country.
Hot Take: The Transformation of a Villa into an Urban Farm
It’s fascinating to see how Su Zhu’s villa has been repurposed into an urban farm by his wife’s company, Abundant Cities. This transformation not only showcases the adaptability and resilience of individuals in the crypto industry but also highlights the growing interest in sustainable agriculture. By utilizing the space for research and development in urban farming, Abundant Cities is contributing to the advancement of innovative agricultural practices. It serves as a reminder that even in times of financial turmoil, there are opportunities for reinvention and positive change.
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