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Hong Kong-based crypto venture capital firm CMCC Global has launched the “Titan Fund,” a $100 million fund dedicated to supporting blockchain startups in Asia. 
<h2 id="span-style-font-weight-400-hong-kong-vc-firm-announces-crypto-fund-span">Hong Kong VC Firm Announces Crypto Fund</h2> 
On October 4th, the inaugural funding round for the Titan Fund concluded, featuring the participation of 30 investors. Notable contributors included blockchain firm Block.one, Hong Kong mogul Richard Li’s Pacific Century Group, Winklevoss Capital, Jebsen Capital, and Yat Siu, the founder of Animoca Brands, as <a href="https://www.scmp.com/tech/tech-trends/article/3236786/hong-kong-crypto-venture-capital-firm-cmcc-global-launches-us100-million-fund-amid-industry-slump">reported</a> by the South China Morning Post. 
<h3 id="span-style-font-weight-400-fourth-dedicated-fund-from-cmcc-global-span">Fourth Dedicated Fund from CMCC Global</h3> 
The Titan Fund marks venture capital firm’s fourth fund dedicated to providing equity investments to early-stage blockchain startups, with a particular emphasis on those based in Hong Kong.&nbsp; 
According to Yen Shiau Sin, the managing director of the Titan Fund, the increased regulatory scrutiny on cryptocurrencies in the United States has resulted in Asian companies reaping the benefits. He mentioned that many projects are “thinking of coming here talking to us.” 
<h2 id="span-style-font-weight-400-investment-in-key-areas-including-nfts-span">Investment in Key Areas Including NFTs</h2> 
CMCC Global’s crypto fund will focus its investments on several key areas, including blockchain infrastructure, consumer applications such as gaming and nonfungible tokens (NFTs), and financial services. This encompasses exchanges, wallets, and lending and borrowing platforms within the cryptocurrency space. 
<h3 id="span-style-font-weight-400-hong-kong-startups-receive-funding-span">Hong Kong Startups Receive Funding&nbsp;</h3> 
So far, the fund has completed five investment rounds, with two of them specifically supporting startups located in Hong Kong. Among the startups based in the special administrative region of China that have received support from the Titan Fund are Mocaverse, an NFT project initiated by the popular blockchain company Animoca Brands in December 2022, which secured $20 million in funding in September.&nbsp; 
The other is Terminal 3, a startup focused on Web3 data infrastructure. 
The development comes after <a href="https://thecoinrise.com/hong-kong-named-as-the-most-crypto-ready-state-in-2023/">Hong Kong solidified its role as the</a> Most Crypto-Ready center in 2023, the city’s Police Force unveiled a new Web3.0 platform called <a href="https://thecoinrise.com/hong-kong-police-force-launch-cyberdefender-metaverse/">“CyberDefender Metaverse” in May</a>. This initiative is designed to proactively tackle and combat fraudulent activities in the cryptocurrency sphere. 
The post <a rel="nofollow" href="https://thecoinrise.com/hong-kong-vc-firm-announces-100m-fund-for-asian-crypto-startups/">Hong Kong VC Firm Announces $100M Fund for Asian Crypto Startups</a> appeared first on <a rel="nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Hong Kong VC Firm Announces $100M Fund for Asian Crypto Startups

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