CMCC Global has unveiled its 4th Titan Fund, valued at $100 million, a significant move amid Hong Kong's recent downturn in crypto investments. The fund led investments in Mocaverse, a brand launched in December with Animoca Brands, with over 30 investors participating, including Jebsen Capital and Winklevoss Capital.

Now, CMCC Global will support early-stage startups across Asia, covering various areas like blockchain infrastructure, financial services, and consumer applications. Despite last year's setback in Hong Kong's crypto sphere due to unclear policies and pandemic restrictions, a policy shift in October 2022 signaled the region's embrace of Web3, allowing crypto ventures to extend access to retail traders.

While recent events like JPEX's departure may have left a mark, startups remain hopeful that Hong Kong will continue its momentum in embracing Web3 technologies. Mocaverse, an NFT project, secured $20 million in funding in September, following a pre-seed round in August, specifically for Terminal 3, a startup focused on Web3 data infrastructure.

Martin Baumann, co-founder of CMCC Global, clarified that the Titan Fund doesn't rigidly mandate how much capital should be allocated to Hong Kong companies. Established in 2016 in Hong Kong, Baumann expressed confidence in the region's potential and aims to invest in top entrepreneurs globally, believing that supporting crypto ventures in their early stages will foster more startups.

Given the challenging fundraising environment and recent industry events like FTX's bankruptcy, confidence in digital assets has waned, reflected in a significant decline in global venture capital investment and deal numbers compared to the previous year.