C Ventures, a venture capital firm started by Hong Kong real estate tycoon and billionaire Adrian Cheng, is reportedly looking to raise $200 million to invest in the cryptocurrency market. In addition to the cryptocurrency fund, C Ventures intends to raise around $300 million over the next 18 months in order to invest in private equity and private debt strategies, according to the report.
This comes as no surprise as Cheng has been outspoken about his support for blockchain.com technology and cryptocurrencies. In an interview with Bloomberg last year, he said that he believes that cryptocurrencies will eventually replace fiat currencies.
Cheng apparently favors the NFT and metaverse sub-sectors. Adrian recently bought 101 NFTs from the Azuki collection. “We will carve out a unique space in the Web3 world and bring our culture of creativity and community-based experiences to life,” he tweeted last month.
C ventures offer illumination to struggling private firms
The firm is betting on...
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