CMC News

#HashKey Capital Secures $250M for Fourth #CryptoFund

HashKey Capital announced Wednesday it has secured $250 million in commitments for its fourth #cryptocurrency fund, surpassing early projections despite ongoing market volatility. The Hong Kong-based investment firm is now targeting a final close of $500 million for the HashKey Fintech Multi-Strategy Fund IV.

The capital came from global institutional investors, family offices and high-net-worth individuals, though HashKey did not disclose specific backers. CEO Deng Chao said the fund positions the firm to capture growth in emerging markets, which he described as testing grounds for real-world #blockchain applications.

HashKey Capital manages over $1 billion in #assets and has backed more than 400 projects since launching in 2018. Its first fund achieved a distributed-to-paid-in ratio exceeding 10x, according to the company.

The firm operates from Singapore with offices in Hong Kong and Japan. It serves as the investment arm of HashKey Group, which holds one of Hong Kong's first crypto exchange licenses and helped launch the city's inaugural spot $BTC and $ETH exchange-traded funds.

HashKey made its trading debut on the Stock Exchange of Hong Kong last week following a $206 million initial public offering. Shares rose 4% on Wednesday.

Fund IV will pursue what HashKey calls a multi-strategy approach focused on infrastructure and mass adoption use cases. The firm said it will direct capital toward projects demonstrating scalable applications in emerging markets.