CMCC Global co-founders Charlie Morris and Martin Baumann – credit: CMCC Global
CMCC Globala Asian investment firm supported by the Winklevoss and specialized in the blockchainsets up a new fund with 100 million dollars.
In an interview given to Bloombergthe co-founders of CMCC Global stated that the company was launching a 100 million dollar fund which would concentrate its investments in startups specialized in the blockchain.
Based in Hong Kong and supported by the Winklevoss twins and the businessman Richard Lithe venture capital firm plans to invest in projects based in Asiabut also elsewhere, through series A and B.
There’s a lot of innovation coming out of Asia. There’s a lot of capital waiting for the right entry valuations to pull the trigger,” said co-founder Martin Baumann.
The other co-founder, Charlie Morris, touted the crypto-friendly politics implemented by the Hong Kong government. The regulators are now interested in creating an environment conducive to the development of digital assets and are preparing a licensing system. The FTX affair in November did not extinguish their ambitions. And Beijing is reportedly quietly supporting the initiative, using the city-state as a “testing ground” for the cryptoaccording to sources close to the case.
“We see places like Hong Kong have a real opportunity right now to bring these companies and entrepreneurs to the city,” Morris said, noting that the United Stateswhere regulatory uncertainty over crypto reigns, were currently “shooting themselves in the foot” by allowing other jurisdictions to attract innovative projects.
Since its inception in 2016, CMCC Global has launched several funds and made investments in major blockchain networks including Ethereum, Cosmos and Solana. Its portfolio also includes startups Web3 such as Animoca Brands and Limewire.
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