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

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).