1 year ago
Blockchain-focused task superior steadfast CMCC Global has raised $100 cardinal for a caller money that volition put successful Hong Kong-based Web3 companies.
The Titan Fund, arsenic it is called, volition marque early-stage investments successful companies crossed Web3 sectors specified arsenic gaming, the metaverse and non-fungible tokens (NFTs), according to an emailed announcement connected Wednesday. State Street volition service arsenic the fund’s head and EY arsenic its auditor.
The pb capitalist successful the money was Block.one (B1), which committed $50 million, alongside Richard Li’s Pacific Century Group, Winklevoss Capital (Tyler and Cameron Winklevoss’ firm) and Animoca Brands laminitis Yat Siu. B1 volition besides go a number shareholder successful CMCC Global’s holding entity.
Hong Kong has re-established itself arsenic a crypto hub pursuing the creation of a caller regulatory regime which came into effect successful June, making it an charismatic destination for concern from the large VC players successful the broader blockchain industry.
Edited by Nick Baker.
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