(The Asset by Staff Writer) – CMCC Global, a Hong Kong-headquartered venture capital firm focused on blockchain and Web3 innovation, has launched a new fund that will invest in blockchain start-ups.
Titan Fund is seeking equity in early-stage companies in infrastructure, fintech, and consumer applications such as gaming, metaverse and non-fungible tokens (NFTs).
The fund has raised US$100 million at first close, with the support of major blockchain investors led by Block.one (B1), which has committed US$50 million. As part of its strategic investment, B1 will become a minority shareholder in CMCC Global’s holding entity. CMCC Global itself is participating in the fund with a 15% general partner commitment.
Other notable investors are Richard Li’s Pacific Century Group, Hong Kong’s Jebsen Capital, Winklevoss Capital, as well as personal investments from Yat Siu of Animoca Brands and other prominent blockchain entrepreneurs.
The fund is managed by Fintech Investment Group, a wholly owned subsidiary of CMCC Global. Both hold asset management licences from Hong Kong’s Securities and Futures Commission.
