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Richard Li, Winklevoss-Backed Crypto Fund Seeks $300 Million

  • CMCC Global’s latest fund attracts Li’s investment group
  • Gemini founders are investors of Hong Kong venture firm
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CMCC Global, a Hong Kong-based venture capital firm, is targeting $300 million of assets in its latest crypto fund -- and attracting traditional investors like billionaire Richard Li to bet on blockchain technology and its applications.

Launched in April, its fourth crypto token fund now has assets under management of close to $90 million, with a preliminary goal of reaching the $300 million hard cap early next year, the firm said. Hong Kong tycoon Richard Li, who anchored CMCC’s previous fund via his investment manager Pacific Century Group, will roll over to the latest fund along with other existing investors, CMCC said.