- Hong Kong-based Venture Capital Fund raised $100m for Web3 expansion.
- The Fund will offer growth opportunities to blockchain startups and entrepreneurs.
- The Fund received investments from a co-founder of cryptocurrency exchange Gemini and other investors.
Hong Kong has embraced blockchain technology over the years, reiterating the region’s commitment to becoming a leading digital hub.
In a boost to these aspirations, Asian venture capital firm CMCC Global has announced the launch of a new investment fund.
The Titan Fund
In an October 4th release by Bloomberg, CMCC Global unveiled Titan Fund, a Hong Kong-based capital fund set to drive technology adoption and expand the region’s digital industry.
Sponsored
The fund, which will be led by investment director Yen Shiau Sin, will offer accredited investors access to growth opportunities within the blockchain ecosystem, through a conventional equity capital investment strategy.
CMCC Global’s co-founder, Martin Baumann, emphasized that “Titan Fund will further our mission to accelerate innovation in blockchain technology and the digital asset ecosystem.”
The firm further disclosed that Titan Fund will be managed by its Hong Kong-based subsidiary, Fintech Investment Group Limited, as the latest addition to its portfolio. The fund complements its Digital Asset Funds, which has directly invested in protocols and virtual assets since 2016.
Titan Fund achieved a total fundraising of $100 million in its first close, with investments from blockchain investors such as Winklevoss Capital, Block.one (B1), Hong Kong-based Jesben Capital, and others.
Sponsored
Co-founder of Gemini Cameron Winklevoss emphasized that "The Titan Fund will empower great entrepreneurs to build the next wave of Web3 and blockchain-powered fintech applications. The last five years have seen a set of new unicorn companies emerge, the next five to ten years will see this trend continue to accelerate as mainstream adoption of blockchain technology proliferates."
Read more on the Gemini co-founders’ recent troubles:
Gemini Founders’ $282M Withdrawal Questions CredibilityÂ
Defunct Exchange FTX hackers stirring waters with new major ETH transactions. Read more:
FTX Hackers Stir Sell-Off Concerns With $99M ETH TransactionÂ
