$100M fund for Asian blockchain businesses is opened by Hong Kong crypto venture capital
The “Titan Fund” has already invested in five distinct blockchain startups, allocating two of these investments to projects based in Hong Kong. CMCC Global, a venture capital (VC) firm centered in Hong Kong with a focus on cryptocurrencies, has successfully raised a substantial $100 million to bolster emerging Asian blockchain startups. This remarkable achievement signifies the culmination of the inaugural funding round for the crypto fund, aptly named the Titan Fund. The round witnessed enthusiastic participation from 30 investors, featuring prominent names such as blockchain behemoth Block.one, Hong Kong magnate Richard Li’s Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Animoca Brands founder Yat Siu, as reported by the South China Morning Post. The Titan Fund is strategically poised to channel its investments into pivotal sectors, including blockchain infrastructure, consumer-oriented applications such as gaming and nonfungible tokens (NFTs), and...