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CMCC Global Unveils $100M Titan Fund for Web3

Capital | Oct 10, 2023

Titan Fund - CMCC Global Unveils $100M Titan Fund for Web3

CMCC Global, a prominent blockchain and Web3 investment firm in Asia, has unveiled a $100 million USD Titan Fund, a venture capital fund dedicated to fostering Web3 companies.

The fund has successfully hit its initial fundraising target, securing USD100m in its first close, with a strategic focus on investing in blockchain companies' equity.  Titan Fund will channel investments into early-stage startups across three key sectors: Infrastructure, Fintech, and Consumer applications, which includes gaming, metaverse, and NFTs.

With Asia being a hotspot for blockchain deals, the Titan Fund is strategically placed to capture value in the region, anticipating a surge in mainstream adoption of blockchain technology in the coming years.

Block.one (B1) has emerged as the anchor investor, committing a substantial USD50m to the fund, alongside other notable investors like Richard Li's Pacific Century Group and Winklevoss Capital.  In addition to being an anchor investor, B1 will also become a minority shareholder in CMCC Global's holding entity, aligning strategic potential for both entities.

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The fund will be managed by a new managing partner, Yen Shiau Sin, formerly of B1, and a team comprising Investment Principal Jonathan Cheung, and CMCC Global's Co-founders Charlie Morris and Martin Baumann.

The Titan Fund, administered by State Street and audited by EY, is positioned as an institutional-grade fund and is managed by Fintech Investment Group Limited, a subsidiary of CMCC Global.


NCFA Jan 2018 resize - CMCC Global Unveils $100M Titan Fund for Web3The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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