Connect with us

$500 million

Hashkey Capital Raises $500 Million For Its Third Fund, Despite Crypto Market Downturn

Published

on

Hashkey Capital Raises $500 Million For Its Third Fund, Despite Crypto Market Downturn

On Tuesday, global asset manager Hashkey, which focuses on crypto and blockchain investments, announced that 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 to Focus 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, renowned family offices, and corporations.” Hashkey Capital is one of the largest crypto funds in Asia as it manages more than $1 billion in customer assets.

“Hashkey Capital weathered at least three cycles in the industry,” Deng Chao, the head of Hashkey Group Singapore and CEO of Hashkey Capital said in a statement on Tuesday. “From each unique experience, we gained important insights that will allow us to navigate through turbulence. We are one of the few crypto investors that have been granted a license for fund management involving digital assets in Hong Kong, with another approval in principle received for fund management in Singapore,” the CEO of Hashkey Capital added.

Advertisement

Despite the crypto winter, which has shaved $2 trillion off the crypto economy’s net value, investments in the space have continued. For example, while speaking at the World Economic Forum event in Davos, Switzerland, Animoca Brands co-founder Yat Siu said his firm plans to grow its 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, focusing on the growing opportunities in emerging markets.”

The Hashkey Fund III announcement adds:

Fund III will provide investors with institutional-grade exposure to all facets of blockchain and crypto technologies. This new fund aims to invest primarily in infrastructures, toolings, 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 firm’s Hashkey Digital Asset Group (HDAG) partnered with Hong Kong-based ZA International to explore “cooperative opportunities on digital assets, Web3, and distributed ledger technology (DLT), among other areas.” A week prior to partnering with ZA International, HDAG signed a deal with SEBA Bank to “accelerate the adoption of digital assets in Hong Kong and Switzerland.”

Tags in this story

$500 million, Animoca Brands, Asia, Blockchain, blockchain technology, corporations, Crypto, crypto economy, crypto solutions, Crypto Winter, customer assets, Deng Chao, Digital Assets, Emerging Markets, Family Offices, fund, fund management, global asset manager, Hashkey, Hashkey Capital, HashKey Fintech Investment III, Hashkey fund, Hong Kong, institutional investors, Market Downturn, Mass adoption, SEBA Bank, Singapore, sovereign wealth funds, Web3, Web3 concepts, Yat Siu, ZA International

How do you see Hashkey Capital’s Fund III positioning itself in the crypto and blockchain industry? Let us know what you think about this subject in the comments section below.

Advertisement
Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement

Top posts

Arbitrum-Based Vest Exchange Emerges, Aims To Democratize Perpetual Futures  Arbitrum-Based Vest Exchange Emerges, Aims To Democratize Perpetual Futures 
$1.25 billion7 hours ago

Arbitrum-Based Vest Exchange Emerges, Aims To Democratize Perpetual Futures 

A new decentralized exchange (dex) on Arbitrum, called Vest Exchange, was announced this past weekend, and the team that created...

Best Options this Week Best Options this Week
Uncategorized8 hours ago

Best Options this Week

Looking for the best options this week? The government and the Federal Reserve have created plenty of volatility for options...

Litecoin breaks above its realized price after almost a year Litecoin breaks above its realized price after almost a year
litecoin9 hours ago

Litecoin breaks above its realized price after almost a year

Got a story tip? Email [email protected] Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy...

SBF tried to meet FTX replacement CEO John Ray SBF tried to meet FTX replacement CEO John Ray
Bankruptcy9 hours ago

SBF tried to meet FTX replacement CEO John Ray

SBF tried to meet FTX replacement CEO John Ray Mike Dalton · 4 seconds ago · 2 min read Sam...

Bitcoin liquidations in last 24 hours top $160M Bitcoin liquidations in last 24 hours top $160M
Analysis9 hours ago

Bitcoin liquidations in last 24 hours top $160M

Bitcoin liquidations in last 24 hours top $160M Zeynep Geylan · 25 mins ago · 1 min read Data shows...

Polkadot [DOT] dropped to a key support zone; can bulls prevail? Polkadot [DOT] dropped to a key support zone; can bulls prevail?
altcoin10 hours ago

Polkadot [DOT] dropped to a key support zone; can bulls prevail?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s...

BlockFi permitted to auction mining equipment BlockFi permitted to auction mining equipment
Bankruptcy10 hours ago

BlockFi permitted to auction mining equipment

BlockFi permitted to auction mining equipment Mike Dalton · 2 hours ago · 1 min read Courts have determined that...

Why Solana’s [SOL] recent gains might be undercut by this metric’s findings Why Solana’s [SOL] recent gains might be undercut by this metric’s findings
altcoin11 hours ago

Why Solana’s [SOL] recent gains might be undercut by this metric’s findings

‘Overvalued’ Solana’s indicators seemed to indicate the arrival of market bears  On the contrary, SOL’s demand across the derivatives market...

Twitter moving ahead with payment processing service; crypto integration may come later Twitter moving ahead with payment processing service; crypto integration may come later
Technology11 hours ago

Twitter moving ahead with payment processing service; crypto integration may come later

Twitter moving ahead with payment processing service; crypto integration may come later Dorian Batycka · 42 mins ago · 1...

Stablecoin withdrawals from exchanges reach $800M on Jan. 30 Stablecoin withdrawals from exchanges reach $800M on Jan. 30
Stablecoin11 hours ago

Stablecoin withdrawals from exchanges reach $800M on Jan. 30

Got a story tip? Email [email protected] Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy...

Bitcoin Rise In First Month Of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ To ‘Greed’ Bitcoin Rise In First Month Of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ To ‘Greed’
24 hours13 hours ago

Bitcoin Rise In First Month Of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ To ‘Greed’

Last month, statistics showed that the Crypto Fear and Greed Index (CFGI) had a score of 25, indicating “extreme fear.”...

Unbanked And Mastercard Team Up To Accelerate Crypto Card Adoption Within Web3 Organizations In Europe Unbanked And Mastercard Team Up To Accelerate Crypto Card Adoption Within Web3 Organizations In Europe
litecoin13 hours ago

Unbanked And Mastercard Team Up To Accelerate Crypto Card Adoption Within Web3 Organizations In Europe

press release PRESS RELEASE. Today it was announced that Unbanked, the leading provider of white-label crypto card issuance and program...

Twitter: Elon Musk reportedly plans to build crypto functionality to payments service Twitter: Elon Musk reportedly plans to build crypto functionality to payments service
altcoin13 hours ago

Twitter: Elon Musk reportedly plans to build crypto functionality to payments service

Elon Musk’s Twitter plans on bringing payment services that could add support to crypto Dogecoin registered a rise in its...

Top 10 Data Science Programming Languages You Should Know In 2023 Top 10 Data Science Programming Languages You Should Know In 2023
Data Science14 hours ago

Top 10 Data Science Programming Languages You Should Know In 2023

The Top 10 data science programming languages you should know in 2023 Data science has become an increasingly popular field...

ChatGPT For Writing Marketing Emails ChatGPT For Writing Marketing Emails
ChatGPT14 hours ago

ChatGPT For Writing Marketing Emails

ChatGPT for writing marketing emails is one of the biggest benefits of email marketing it assists businesses to increase user...

Crypto Market Turns Red – Here Are The Key Events To Watch This Week Crypto Market Turns Red – Here Are The Key Events To Watch This Week
Bitcoin Price14 hours ago

Crypto Market Turns Red – Here Are The Key Events To Watch This Week

The crypto market started the year on a positive note where most of the cryptocurrencies doubled their value. Since the...

Biggest Movers: MATIC Retreats From 12-Week High On Monday Biggest Movers: MATIC Retreats From 12-Week High On Monday
Analysis15 hours ago

Biggest Movers: MATIC Retreats From 12-Week High On Monday

Polygon retreated from a multi-month high to start the week, as traders moved in to secure recent gains. Chainlink also...

What Is WEB3? What All You Need To Know About WEB3 Technology? What Is WEB3? What All You Need To Know About WEB3 Technology?
Latest News15 hours ago

What Is WEB3? What All You Need To Know About WEB3 Technology?

What is web3? What do you need to know about web3 technology? Its features and layers Web 3 or Web...

Trending