CMCC Global has raised $100 million for its fund to support blockchain startups in Asia.
Hong Kong-based crypto venture capital firm CMCC Global has raised $100 million for its Titan Fund. This fund, created to support blockchain initiatives in Asia, received support from more than 30 investors, including Winklevoss Capital and Animoca Brands.
$100 million blockchain fund in Asia!
Initiatives in the field of blockchain and Web3 continue at full speed in Asia. Throughout 2023, Asia attracted attention with hosting new technologies. Hong Kong, in particular, has reached an important position in the industry. Hong Kong-based CMCC Global is among the companies that turned this situation into an opportunity. The company created the Titan Fund for the purpose of blockchain initiatives.
The Titan Fund has included backers such as Animoca Brands, which manages millions of dollars in assets, and Winklevoss Capital, founded by the Winklevoss brothers. The fund has raised $100 million through donations from 30 supporters.
Martin Baumann, founding partner of CMCC Global, stated that Block.one, Richard Li’s Pacific Century Group and Jebsen Capital are among the names supporting the Titan Fund.
Baumann said the following about Hong Kong and blockchain initiatives;
If Hong Kong continues to move towards adopting Web3, the number of entrepreneurs starting companies in this space will naturally increase. We can be their first capital.
