HashKey Capital Secures $250 Million for New Crypto Fund

Singapore-based crypto investment firm HashKey Capital has raised $250 million in the first close of its fourth crypto-focused fund, HashKey Fintech Multi-Strategy Fund IV.

The fund has garnered significant attention from investors, including major institutions, family offices, and wealthy individuals, with a new goal of reaching a total of $500 million.

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According to the official release, HashKey said Fund IV will focus on multi-strategy investments, targeting blockchain infrastructure and projects with potential for mass adoption. The firm combines public-market strategies with selective private-market opportunities to capture inefficiencies and support innovation in the digital assets space. 

Furthermore, HashKey Capital CEO Deng Chao commented on the fund, stating, “With $250 million in new capital, we are uniquely positioned to capture the massive growth occurring in emerging markets. These regions are the true testing grounds for blockchain’s real-world applications, and Fund IV will provide the essential fuel to scale those innovations globally.”

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.

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