Hong Kong-Based CMCC Global Launches A Fund Worth 100 Million US Dollars!

Direct Answers: Hong Kong-based venture capital firm focusing on cryptocurrencies CMCC Global collected 100 million US Dollars for a new fund called Titan Fund, which aims to support Asian blockchain start-ups, on Wednesday. More than 30 investors participated in completing the first round of the fund.

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In an interview, Martin Baumann, founding partner of CMCC Global, stated that the Titan Fund is their fourth fund focusing on early-stage blockchain startups, especially focusing on Hong Kong. Baumann also explained that the fund was one of the leading investors of a new non-fungible token (NFT) project called Mocaverse, which raised 20 million US Dollars in September, and he previously participated in a pre-seed funding round for the fund in August.

Among the investors of the Titan Fund are notable figures such as blockchain company Block.one, Pacific Century Group of Hong Kong businessman Richard Li, Winklevoss Capital, Jebsen Capital, and Yat Siu, the founder of Animoca Brands. Baumann emphasized that two of the five investments made by the fund so far were Hong Kong-based companies.

Also, he mentioned that the Titan Fund has a focus on the Mocaverse project, which launched last December and raised 20 million US Dollars this September. Alongside this fund, CMCC Global also participated in a pre-seed funding round for the Hong Kong-based Web3 data infrastructure initiative Terminal 3.

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