Hashkey Capital raises $500M for its third fund, despite cryptocurrency market downturn – Bitcoin News
On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced that it closed its third fund at $500 million. The company’s “HashKey Fintech Investment III” is dedicated to developing cryptographic solutions, blockchain technology, and Web3 concepts.
Hashkey Capital III focuses on Web3, emerging markets and crypto solutions
Amidst the crypto market downturn, global asset manager Al Hashki Capital announced the closing of a new fund, “Hashkey Fintech Investment III,” after raising $500 million. According to Hashkey, “The fund has received strong backing from institutional investors such as sovereign wealth funds, famous family offices and corporations.” Hashkey Capital is one of the largest crypto funds in Asia with over $1 billion in client assets under management.
“Hashkey Capital has survived at least three industry cycles,” said Ding Zhao, Chairman of Hashkey Group Singapore and CEO of Hashkey Capital. He said in a statement on Tuesday. “From each unique experience, we have gained important insights that will allow us to navigate through the turmoil. We are one of the few cryptocurrency investors to be granted a license to manage funds involving digital assets in Hong Kong, with another approval in principle received to manage funds in Singapore,” he added. CEO of Hashkey Capital.
Despite the crypto winter, which raked in $2 trillion in economic net worth from the crypto economy, investments in the space have continued. For example, while speaking at the World Economic Forum It happened In Davos, Switzerland, Animoca Brands co-founder Liat Seo He said His company plans to grow its portfolio by 30% by the end of 2023. As for Hashkey’s III fund, the funds will be “deployed to advance exceptional crypto and blockchain initiatives around the world, with a focus on growing opportunities in emerging markets.”
The Hashkey Fund III announcement adds:
Fund III will provide investors with institutional exposure to all aspects 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 about 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 “collaborative opportunities in digital assets, Web3, and distributed ledger technology (DLT), among other areas.” A week before the partnership 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 III fund positioning itself in the crypto and blockchain industry? Tell us what you think about it in the comments section below.
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