Hong Kongs CMCC Global Launches $100M to Support Blockchain Startups
Blockchain CMCC Global Hong Kong Meluncurkan $100 Juta untuk Mendukung Startup Blockchain 5 menit yang lalu Berita Bitcoin Ethereum The launch of the VC fund in Hong Kong highlights the countrys rising role as a crypto haven. CMCC Global, a crypto-focused venture capital (VC) company, has successfully raised $100 million to offer equity investments to early-stage blockchain startups across Asia with a particular interest in Hong Kong, its home country. In an interview with the South China Morning Post, the company‘s co-founder Martin Baumann said the inaugural funding round for the fund, called Titan Fund, concluded on October 4. The round saw participation from more than 30 investors, including blockchain company Block.one, Winklevoss Capital, Jebsen Capital, Yat Siu, founder of Animoca Brands, and Hong Kong tycoon Richard Li’s Pacific Century Group. CMCC Global to Support Startups in Three Major Sectors in the Industry The just concluded Titan Fund marks the companys fourth financial round with a special focus on Hong Kong. According to Baumann, the fund will focus its investments on three major sectors in the industry: blockchain infrastructure, consumer applications, and financial services. In blockchain infrastructure, CMCC Global intends to support startups that enhance the underlying technology of blockchain networks while consumer applications include backing startups in the