HashKey Capital Raises $250 Million for New Crypto Fund
HashKey Capital just locked down a quarter-billion dollars—and the timing couldn't be more telling.
Where's the money going?
Straight into early-stage crypto and blockchain ventures. The firm is hunting for the next generation of infrastructure, DeFi protocols, and Web3 applications. Think of it as a massive bet on the foundational tech that'll power the next cycle.
Why this matters now
A $250 million fundraise in this climate isn't just a vote of confidence; it's a strategic maneuver. While traditional VC funds are still licking their wounds from the last crash, specialized crypto-native players are quietly building war chests. They're positioning to buy when others are fearful—or just plain confused by a blockchain ledger.
The signal to the market
This isn't loose change from retail speculators. This is institutional capital making a calculated entry. It tells a story of maturation, where due diligence meets deep conviction. The smart money isn't just watching from the sidelines anymore; it's writing checks.
One cynical finance jab: Because nothing says 'long-term belief' like a fund that'll need to show returns before the next Fed meeting.
The bottom line: A major player just doubled down. The building phase is funded. The race for the next paradigm is officially on.
Recent track record
The fundraising comes shortly after the firm completed a $206 million initial public offering (IPO) on the Hong Kong Stock Exchange. The company manages more than $1 billion in assets and has invested in over 400 blockchain projects worldwide since its launch in 2018. Its first fund achieved a distributed-to-paid-in ratio of more than 10x.
HashKey was also one of the first companies in Hong Kong to launch spot Bitcoin and Ether ETFs, which makes it a pioneer in the region’s crypto market.
The fundraise comes at a time when crypto market activity is slowing down. After a big market crash in October, many short-term traders and market makers have stepped back. According to data from Glassnode, continued outflows from Bitcoin and Ether ETFs have dropped since early November, which suggests that investors are cautious this period and there’s less liquidity in the market.
Global reach and investor opportunities
HashKey Capital is based in Singapore and has offices in Hong Kong and Japan. It holds multiple Hong Kong licenses, including Type 1, Type 4, and Type 9. Fund IV will allow investors to access both liquid and private crypto opportunities and support projects that could grow worldwide.
Also Read: Clear Street Targets $12B IPO Backed by Goldman Sachs
