CMCC Global Hong Kong Funds $100M To Back Asian Blockchain Start-ups: Report

Key Points:

• CMCC Global Hong Kong funds $100 million to support Asian blockchain start-ups.
• The fund focuses on equity investments in early-stage blockchain companies, particularly in Hong Kong.

CMCC Global Hong Kong funded successfully $100M for Asian blockchain start-ups, defying crypto sector challenges, as per SCMP.

The fund’s completion of its initial round saw participation from more than 30 investors, including notable names like Block.one, Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Animoca Brands founder Yat Siu.

The Titan Fund, which marks CMCC Global’s fourth fund, is set to provide equity investments primarily to early-stage blockchain start-ups, with a strong emphasis on Hong Kong. Already, the fund has made five investments, two of which are in Hong Kong-based companies.

CMCC Global Hong Kong Fund

While the Titan Fund doesn’t have a strict allocation for Hong Kong firms, it is determined to invest in the best global entrepreneurs. CMCC Global, established in Hong Kong in 2016, holds a natural attachment to the city, recognizing its fintech innovation potential.

Hong Kong, once a hub for crypto companies, had experienced an exodus due to regulatory uncertainties and pandemic restrictions. However, recent policy shifts indicate the city’s renewed embrace of the industry, fostering optimism among crypto firms.

Titan Fund’s focus areas include blockchain infrastructure, consumer applications (such as gaming and NFTs), and financial services (exchanges, wallets, lending, and borrowing platforms). However, new exchanges are not the fund’s primary focus, given the current dynamics in the industry.

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