While small investors have an uneasy mood about the future of the cryptocurrency industry, venture capital companies continue to raise funds.
While expectations that the deep bear market will end with the halving soon increase interest in crypto, the latest news on this subject came from Hong Kong. CMCC Global, one of Hong Kong's cryptocurrency venture capital companies, raised $100 million in its latest investment round, SCMP reported.
More than 30 investors, including Animoca Brands, Block.one, Hong Kong businessmen, Winklevoss Capital and Jabsen Capital, participated in the investment round.
The fund will focus primarily on Hong Kong. The fund mainly aims to support Asian blockchain start-ups.
Stating that Hong Kong is gradually adopting web3, CMCC Global Founding Partner Martin Baumann said:
“We aim to invest in the best entrepreneurs around the world. If Hong Kong continues on the path of adopting Web3, naturally more and more entrepreneurs will start companies in this field and we can be their first capital.
“Since Hong Kong embraced this industry, we are seeing a steady increase in the number of new companies seeking to locate here and companies relocating to Hong Kong.”
Sharing his positive thoughts about the crypto industry, Baumann stated that it was not easy to raise funds due to the recent bankruptcies, but they still managed to do so.
