{"id":3390,"date":"2023-05-08T08:53:12","date_gmt":"2023-05-08T08:53:12","guid":{"rendered":"https:\/\/nftmetta.com\/?p=3390"},"modified":"2023-05-08T08:53:12","modified_gmt":"2023-05-08T08:53:12","slug":"richard-li-backed-venture-firm-flags-hong-kong-crypto-potential","status":"publish","type":"post","link":"https:\/\/nftmetta.com\/richard-li-backed-venture-firm-flags-hong-kong-crypto-potential\/","title":{"rendered":"Richard Li-Backed Venture Firm Flags Hong Kong Crypto Potential"},"content":{"rendered":"\n

May 8, 2023<\/p>\n\n\n\n

By Sharan Kaur Phillora<\/p>\n\n\n\n

CMCC Global<\/u><\/a>, a Hong Kong-based VC firm, has launched a new US$100 million fund focused solely on blockchain opportunities, signaling confidence in the island\u2019s potential as a hub for virtual asset trading.<\/p>\n\n\n\n

Here\u2019s what we know<\/strong><\/p>\n\n\n\n

The fund has three main areas of interest: infrastructure, fintech, and consumer \u2013 all of which drive the digital assets space forward, co-founder Charlie Morris<\/u><\/a> told Bloomberg Television.<\/u><\/a><\/p>\n\n\n\n

The firm, which bills itself as one of Asia\u2019s first VC funds focused purely on blockchain and cryptocurrency, has a strong investor base in Hong Kong. The new fund will primarily target seed and series A investments. CMCC, backed by Gemini Trust founders Cameron and Tyler Winklevoss<\/u><\/a>, noted that Asia has seen a rapid increase in blockchain investments.<\/p>\n\n\n\n

In particular, Hong Kong has been pushing to become a leading virtual-asset trading hub. The HK government has set aside HK$50 million (about US$6.4 million) for expanding its local Web3 ecosystem.<\/p>\n\n\n\n

Just last year, CMCC Global launched a crypto fund to raise $300 million, and before that, they raised nearly $90 million in another crypto funding round.<\/p>\n\n\n\n

About the author<\/strong><\/strong><\/p>\n\n\n\n

Sharan Kaur Phillora\u2019s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology \u2013 two emerging technologies that will change how we interact with each other in the future. When she isn\u2019t exploring a new idea or concept, she enjoys reading literary masterpieces.<\/p>\n","protected":false},"excerpt":{"rendered":"

May 8, 2023 By Sharan Kaur Phillora CMCC Global, a Hong Kong-based VC firm, has launched a new US$100 million fund focused solely on blockchain opportunities, signaling confidence in the […]<\/p>\n","protected":false},"author":1,"featured_media":3394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/3390"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=3390"}],"version-history":[{"count":1,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/3390\/revisions"}],"predecessor-version":[{"id":3395,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/3390\/revisions\/3395"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/3394"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=3390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=3390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=3390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}