Venture capital firm CMCC Global is targeting $300 million worth of investments for its latest crypto fund with the backing of investors, such as billionaire Richard Li and Gemini 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 said to be investors in the new fund.
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 that the firm plans to assign part of its latest fund to areas, such as decentralized finance (DeFi) and non-fungible tokens (NFTs).
Jamie Crawley is a CoinDesk news reporter based in London.
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