Hong Kong billionaire Adrian Cheng plans to raise $200 million in crypto funds with his venture capital firm.
Venture capital firms (VC) continue to raise new funds despite the low crypto market conditions. Reports showing the launch of 20 VC funds in August also support the increase in investments. Venture capital firm C Ventures also aims to raise crypto funds to set sail for new investments.
C Ventures’ Goal is to Raise $300 Million in Funding in the Next Year
C Ventures, a venture capital firm founded by Hong Kong billionaire Adrian Cheng, is reportedly planning to raise a new $200 million fund to invest in the crypto space.
The company, which plans to raise $200 million in new funding, aims to raise approximately $300 million to invest in private equity and private loan strategies in the next 18 months, according to the news in .
C Ventures, whose current crypto investments include Animoca Brands, RTFKT Studios, and Matrixport, has invested more than $1 billion since its founding in 2017. According to Beng Cheng, the firm’s co-founder and CEO, the firm’s value increased 40 percent in the first half of this year after the investments.
Beng Cheng also said about the investment plan:
“When people are on the defensive, we are on the offensive. Such an environment will historically work best. I foresee a comeback after 6 to 9 months.”
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