According to TechFlow, CMCC Global, a Hong Kong-based venture capital firm focused on cryptocurrencies, has raised $100 million for a new fund, Titan Fund, with participation from Block.one, Hong Kong tycoon Richard Li's Pacific Century Group, Winklevoss Capital, Jebsen Capital and Animoca Brands founder Yat Siu.

It is reported that the new fund aims to support Asian blockchain startups driven by virtual assets in Hong Kong to cope with the funding crunch caused by the cryptocurrency industry.