CMCC Global, a Hong Kong-based Web3 and blockchain investment fund, has launched a new $100 million venture capital fund called Titan Fund. The fund will focus on early-stage investments in infrastructure, fintech, gaming, metaverse, and NFT startups.
The anchor investor is Block.one, which committed $50 million. Other notable investors include Richard Li’s Pacific Century Group, Hong Kong’s Jebsen Capital, Winklevoss Capital, and leaders from Animoca Brands.
As part of the investment, Block.one will become a minority shareholder in CMCC Global’s holding company. The Titan Fund aims to accelerate Web3 innovation in Asia, which is seeing rapid growth in blockchain deals and adoption.
The fund is managed by CMCC Global, which has licensing from Hong Kong’s securities regulator. The Titan Fund has an institutional structure with administrators like State Street and EY.
Investors highlight the potential for the fund to empower entrepreneurs to build the next generation of leading Web3 and blockchain companies.
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