Former GIC Trader Hao Dong Starts Windrise Capital

Hao Dong, a former commodity portfolio manager at Singapore’s sovereign wealth fund GIC, is launching Windrise Capital, a commodities-focused hedge fund aiming to raise $200 million to $300 million. The fund has received in-principle approval from the Monetary Authority of Singapore and is targeting a launch in the first quarter of 2027.

Windrise will rely on high-frequency data from Chinese mines, metal smelters, factories and warehouses to detect short-term shifts in economic activity and to inform trading decisions. Commodities will be central to the strategy, while the firm also plans to trade currencies, bonds and equities as part of a multi-asset approach. The fund may allocate up to 30% of its portfolio to Chinese commodity futures.

Dong, 37, began his career at Edesia Asset Management, the hedge fund arm of Louis Dreyfus Company, and later worked at Shenzhen Kaifeng Investment and Shanghai Chaos Investment Group. The Windrise founding team includes Kewei Yang, previously managing director for global macro at Tairen Capital, and Dapeng Chen, a former metals strategist at Zijin Mining Group.

The firm intends to use detailed supply-chain and production data to generate timely signals on inventory movements and industrial activity in China. Those signals will be combined with macro analysis and cross-asset trading to allocate capital where the team identifies opportunities.

Windrise obtained in-principle approval from the Monetary Authority of Singapore earlier this month and is completing registration and operational setup ahead of fundraising for the planned Q1 2027 launch. The team is preparing investor outreach and regulatory filings as it finalises its investment platform.