The Hong Kong Alliance in Support of Patriotic Democratic Movements of China, which operated the physical museum, said the online venture will be maintained by an independent curating team.
The alliance was fined HK$8,000 for running the Mong Kok site without a public entertainment license last month.
It said the new virtual museum, endowed with HK$1.6 million from a fundraiser, sets out to preserve records and oral history that have been passed down in Hong Kong for thirty years since authorities in Beijing quashed the 1989 student pro-democracy movement.
The online museum’s content, which is now only available in Chinese, will be translated into other languages, the alliance said.
It said it would also consider reopening the physical museum if it can find a suitable venue.