On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced it has closed its third fund at $500 million. The company’s “HashKey Fintech Investment III” is dedicated to developing crypto solutions, blockchain technology and Web3 concepts.
Hashkey Capital’s Fund III focuses on Web3, emerging markets and crypto solutions
Amid the crypto market downturn, global asset manager Hashkey Capital announced the closing of a new fund, “Hashkey Fintech Investment III,” after raising $500 million. According to Hashkey, the fund received “strong support from institutional investors, namely sovereign wealth funds, reputable family offices and corporations.” Hashkey Capital is one of the largest crypto funds in Asia as it manages over $1 billion in client assets.
“Hashkey Capital has been through at least three industry cycles,” Deng Chao, the head of Hashkey Group Singapore and CEO of Hashkey Capital, said in a statement on Tuesday. “From each unique experience, we have gained important insights that help us navigate turbulence. We are one of the few crypto investors to be licensed for fund management related to digital assets in Hong Kong, with another approval in principle for fund management in Singapore,” added Hashkey Capital CEO.
Despite the crypto winter, which shaved $2 trillion off the net worth of the crypto economy, investment in the space has continued. For example, speaking at the World Economic Forum event in Davos, Switzerland, Animoca Brands co-founder Yat Siu said he is committed to growing his portfolio by 30% by the end of 2023. As for Hashkey’s Fund III, the funds will be “deployed to advance exceptional crypto and blockchain initiatives around the world, targeting the growing opportunities in emerging markets.”
The Hashkey Fund III announcement adds:
Fund III will provide investors with institutional exposure to all facets of blockchain and crypto technologies. This new fund aims to invest primarily in infrastructures, tools and applications that have the potential for mass adoption.
According to Crunchbase, the company has a portfolio of approximately 56 investments to date, including investments in Aztec, Cosmos, Coinlist, Falcon X, Polkadot and Animoca Brands. In mid-December 2022, the company’s Hashkey Digital Asset Group (HDAG) partnered with Hong Kong-based ZA International to “explore collaboration opportunities in areas including digital assets, Web3, and distributed ledger technology (DLT)”. A week prior to partnering with ZA International, HDAG signed a deal with SEBA Bank to “accelerate digital asset adoption in Hong Kong and Switzerland”.
How do you see Hashkey Capital’s Fund III’s position in the crypto and blockchain industry? Let us know what you think about this topic in the comments section below.
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