CMCC Global, a Hong Kong-based venture capital firm, announced the launch of a new US$100 million fund focused solely on blockchain opportunities. The move demonstrates the firm’s confidence in the island’s potential to become a hub for virtual asset trading.
The fund will concentrate on three primary areas of interest: infrastructure, fintech, and consumer. According to co-founder Charlie Morris, who shared the news with Bloomberg Television, these areas are driving the digital assets space forward.
“We see places like Hong Kong having a real opportunity at this point in time to bring those firms and entrepreneurs to the city,” said Charlie.
CMCC Global is one of Asia’s first VC funds focused purely on blockchain and cryptocurrency. The firm has a solid investor base in Hong Kong, and the new fund will primarily target seed and series A investments.
Gemini Trust founders Cameron and Tyler Winklevoss back CMCC Global. The firm highlighted that Asia had seen a rapid increase in blockchain investments, further underscoring the potential for growth in the sector.
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