CMCC Global Launches $100 Million Fund to Support Blockchain Start-ups in Hong Kong and Asia
CMCC Global, a pro-crypto venture capital firm, has recently announced the launch of a $100 million fund aimed at supporting blockchain start-ups in Hong Kong and across Asia. The first round of the Titan fund was successfully completed on October 4, raising over $100 million from more than 30 investors, including notable participants like Block.One, Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Animoca Brands founder Yat Siu.
Funding for Early-Stage Blockchain Start-ups in Hong Kong
The fund will primarily focus on providing equity investments to early-stage blockchain start-ups in Hong Kong. CMCC Global has previously been involved in the development of Animoca Brands and played a crucial role in the pre-seed funding round for Terminal 3, a web3 data infrastructure start-up based in Hong Kong. While the Titan fund aims to invest globally, it recognizes the potential of Hong Kong as a thriving crypto hub and is prepared to support local entrepreneurs in the industry.
Hong Kong’s Rise as a Crypto Hub
Hong Kong has been making significant strides towards establishing itself as one of the leading crypto hubs worldwide. The government has been collaborating with InvestHK to attract foreign investment in the crypto industry. Furthermore, in June 2023, Hong Kong’s Securities and Futures Commission (SFC) started accepting applications for licenses from crypto trading platforms.
Hot Take: CMCC Global Leads the Way in Blockchain Start-up Funding
CMCC Global’s launch of a $100 million fund demonstrates their commitment to supporting blockchain start-ups in Hong Kong and Asia. By attracting investments from prominent players in the industry, such as Block.One and Winklevoss Capital, CMCC Global is poised to play a pivotal role in the growth of the crypto ecosystem. With Hong Kong’s increasing emphasis on web3 technologies and its rise as a crypto hub, the Titan fund will be well-positioned to identify and invest in promising projects. CMCC Global’s initiative showcases their confidence in the potential of blockchain start-ups and their dedication to fueling innovation in the crypto industry.
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