Hong Kong-based venture capital firm CMCC Global has raised $100 million for its Titan Fund, aimed at supporting Asian blockchain startups. This comes at a time when global venture capital investments in crypto firms have seen a significant decline. The fund has attracted participation from notable investors such as Block.one, Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Animoca Brands founder Yat Siu. It will focus on investing in blockchain infrastructure, consumer applications (with an emphasis on gaming and non-fungible tokens), and financial services. Despite not having a strict mandate to allocate capital to Hong Kong companies, CMCC Global recognizes the city’s potential in fintech innovation. The launch of the fund is particularly noteworthy given the current market slump and regulatory uncertainties. However, CMCC Global’s Titan Fund has already made investments in Hong Kong-based startups, demonstrating its commitment to fostering innovation in the city. Hong Kong is emerging as a secure crypto harbor in Asia, attracting projects that are seeking a safe haven amidst regulatory crackdowns in the United States. Overall, CMCC Global’s Titan Fund is poised to support and elevate innovative projects in the blockchain and crypto space, contributing to the sector’s resilience and future growth.

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Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	positive
Relevance Score	1
People	Raghav Sawhney, Richard Li, Yat Siu, Yen Shiau Sin
Companies	Block.one, Jebsen Capital, Animoca Brands, Pacific Century Group, Winklevoss Capital
Currencies	None
Securities	None