From "Domain King" to Entrepreneurial Ecosystem Founder: Cai Wensheng Invests HK$650 Million to Build Hong Kong AI-Web3 Center CAI Building

In May 2025, Tin Hau Road, Hong Kong - in a corner of Hong Kong Island, a 25-story building called "CAI Building" is quietly becoming a gathering place for the new generation of technology entrepreneurs in Asia. Few people know that behind this building is not only the ideal blueprint for the integration of Web3 and AI technology, but also reflects the business insight and continuous evolution of an investor who made his fortune from "speculating on domain names".

This time, Cai Wensheng did not choose to invest in virtual currency or the Web3 project itself, but spent HK$650 million to directly buy a building and build it into the world's first AI+Web3 entrepreneur comprehensive ecological center.

From "Domain Name King" to Technology Investor: Cai Wensheng's Business Vision

Cai Wensheng is not a typical entrepreneur with a technical background. His legendary starting point is domain name trading. As early as the late 1990s, when the Internet was still a new thing, he began to register and purchase a large number of high-quality domain names with keen insight, such as 365.com, baobao.com, laoniu.com, kong.net, etc. At one time, he held thousands of Chinese and Pinyin domain names, making a lot of money and being hailed as "China's No. 1 Domain Name Person".

The first pot of gold brought by the domain name business laid the foundation for his later layout of diversified Internet industries. He has successively invested in projects such as 4399 Mini Games and Meitu Xiuxiu. Among them, Meitu was listed in Hong Kong in 2016, with a market value of up to HK$100 billion.

But compared to enjoying the appreciation of assets, Cai Wensheng is more keen on building new things by himself - now, this momentum has been poured into the "CAI Building" again.

Why buy a building instead of investing coins?

"If it's just to make money, I can just buy Bitcoin." Cai Wensheng said bluntly. But he wants to build a physical community that truly belongs to AI and Web3 entrepreneurs.

This idea comes from his observation of the Hong Kong entrepreneurial circle. Since 2022, Hong Kong's Web3 policy has become increasingly open, attracting a large number of high-end technical talents from the mainland. But Cai Wensheng found that despite the continuous release of policy dividends, there is a lack of an entrepreneurial space for both office and social interaction.

"I hope to find a place like Garage Coffee, where I can chat and drink coffee downstairs and work upstairs, and it would be best if it's free." But Hong Kong's expensive land prices and fragmented building layouts made him search the entire city to no avail. So he made a "simple and crude" decision: buy a building and build it himself.

CAI Building: One building, one entrepreneurial ecosystem

The CAI Building, which was finally built, is located in Tin Hau, Hong Kong Island. It has a superior geographical location, close to the subway station and Victoria Park, and convenient living in the surrounding area. Cai Wensheng's consideration of architectural details even includes: each floor has a balcony, independent air conditioning, the bathroom does not require a key, and there is a gym nearby - because "a good body is the foundation of entrepreneurial success."

The building will be open 24 hours a day, 7 days a week, and free entry and exit without registration, breaking the restrictions on entrepreneurial time and rhythm of traditional office buildings.

More importantly, the building is not just an office space, but a vertical community with hierarchical planning around AI and Web3:

1st floor: AI theme cafe, open to the public, providing communication space

2nd floor: Activity hall, regularly holding lectures, sharing sessions, and parties

3rd floor: AI experience store, displaying and selling global AI products

8th-11th floor: AI-Space shared office area, open for application, free entry for 3-6 months

12th-21st floor: Targeted invitation to AI and Web3 companies

Top floor: AI Club, used for high-end social and project roadshows

Different incubation logic: not interview, but verification

Cai Wensheng admitted: "As an angel investor, I often only have one hour to decide whether to invest in a project, which is unfair to everyone." Therefore, in the CAI Building, the only entry threshold he set is: submit a business plan, and you can enter for free after passing the evaluation, and the only condition is that he has the priority investment right.

This is a test field that subverts the traditional incubator model, giving entrepreneurs time and investors confidence. Here, projects are not judged quickly, but are allowed to gradually "live".

Why integrate AI and Web3?

"The relationship between AI and Web3 is mutually beneficial." Cai Wensheng said.

In his opinion, AI solves the problem of production efficiency, while Web3 changes the production relationship. The decentralized mechanism will release the potential of AI applications, and AI will also help Web3 break away from the "speculative impression" of financial speculation and realize the implementation of technology.

Therefore, CAI Building clearly stated: it is only open to AI and Web3 entrepreneurs. Even if the entire building is limited in area and opportunities are scarce, other industry projects will not be introduced to maintain the purity of the ecosystem.

Hong Kong's unique advantages and entrepreneurial soil in change

Why Hong Kong, not the mainland? Cai Wensheng gave three main reasons:

Small and global market environment: Although the local market in Hong Kong is small, entrepreneurs are naturally international;

Reduced operating costs: With the decline in housing prices and the streamlining of entrepreneurial scale, unicorns may only need 10 people now, rather than the traditional 500-person team;

Freedom of system and environment: no network wall, GitHub and other tools are unobstructed; AI development does not require filing; light tax burden, no capital gains tax.

In Cai Wensheng's view, these advantages are the underlying support for Hong Kong to become a highland for technology entrepreneurship in Asia.

Not just Hong Kong, the CAI model is expected to go global

Currently, the rental floors of the CAI Building are basically fully rented, and the AI-Space shared area will soon be open for application. Cai Wensheng revealed that he has sent invitations to well-known Web3 institutions such as HashKey and Distributed Capital.

Regarding whether this model will be replicated in Tokyo, Singapore, New York, San Francisco and other places in the future, he said frankly: "As long as I find a suitable building, I am willing to rent it and do the same thing."

The ambition of a building is not just office

Cai Wensheng did not choose to speculate on domain names again or invest in a trend, but instead focused on the infrastructure layer. He built not only the CAI Building with HK$650 million, but also a belief - connecting the virtual future with real space and breaking the industrial barriers with the entrepreneurial ecosystem.

If he bet on the golden age of the Internet with domain names 20 years ago; then today, he bets on the next wave of AI and Web3 with a building.

The next stop may really be more than just Hong Kong.