Richard Li, Winklevoss-Backed CMCC Global Targets $300M for Latest Crypto Fund

CMCC Global, an early investor in the Solana blockchain, has also backed Cosmos and Terra.

Oct 29, 2021 at 8:21 a.m. UTC
Updated Oct 29, 2021 at 2:33 p.m. UTC

Venture capital firm CMCC Global is targeting $300 million worth of investments for its latest crypto fund with the backing of investors, including billionaire Richard Li and the Gemini exchange’s co-founders, the Winklevoss twins.

  • Richard Li, who backed CMCC’s previous crypto token fund, will roll over to the latest fund along with other existing investors, Bloomberg reported on Friday.
  • Gemini co-founders Cameron and Tyler Winklevoss are also investors in the new fund, according to the report.
  • CMCC Global, which was founded in 2016, was an early investor in the Solana blockchain having invested $1 million in a private token sale in 2018. The VC has also backed other blockchain projects like Cosmos and Terra.
  • CMCC co-founder Charlie Morris said the firm plans to assign part of its latest fund to areas, such as decentralized finance (DeFi) and non-fungible tokens (NFTs).

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Jamie Crawley is a CoinDesk news reporter based in London.