Ardon Capital, the Hong Kong-based hedge fund, has launched a new Asia-focused fund with the help of a European family office.

The Ardon Asia Fund, seeded by European family office Maroon, will invest mainly in Hong Kong, China, Korea, Australia, Singapore and Japan. It will also dabble in the Philippines, India, Indonesia, Thailand and Malaysia. 

Maroon Capital Asia, the local investment vehicle of Maroon, will provide around US$25 million in seed capital to the fund and working capital to support the business. James O'Hanlon, ex-managing director at Bank of America in Japan, will lead the unit as portfolio manager overseeing six other employees.

Early this year, Pulse Capital Partners had pledged to raise US$50 million for Ardon's Asia fund, but plans fell through. To reflect the assistance of Maroon, the company renamed itself to Ardon Maroon Fund Management.

Ardon was founded in 2010 by Frank Dominick, from Morgan Stanley, and Charles Woo, from Lehman Brothers.