Fun

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

News Feed - 2023-01-18 01:01:28

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.


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. 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. Ethereum Validator Count Surpasses 500,000 Ahead of Upcoming Shanghai Hard Fork NEWS | 1 day ago Binance Launches Off-Exchange Settlement Solution ‘Binance Mirror’ for Institutional Clients NEWS | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to Adopt Next articleIran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits


As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year
Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of m
Bitcoin top $70K or $210K? Analysts, price models clash over BTC cycle peak
Martin Young2 hours agoBitcoin top $70K or $210K? Analysts, price models clash over BTC cycle peakVeteran trader Peter Brandt sparked debate after suggesting BTC may have already hit its peak this cycle, but even he didn
Regulators are cracking down on financial privacy, but ZK-proofs can help
Zoltan Vardai9 hours agoRegulators are cracking down on financial privacy, but ZK-proofs can helpThe convergence of ZK-proofs and decentralized identity systems could create more compliant privacy-preserving protocols, w
An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash
An Ethereum and Web3-Compatible Sidechain Is Coming to Bitcoin Cash On March 2, 2021, the average fee on the Ethereum network costs around 0.0083 ETH in gas or a
Massive Ethereum Buying Spree – Taker Buy Volume hits $1.683B In One Hour
Este artículo también está disponible en español. Ethereum surged over 10% yesterday, marking an impressive recovery alongside a very bullish day for the entire crypto ma
Bullish Signs For Ethereum: Metrics Pointing To Upcoming Breakout
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Binance exec arrested in Kenya, could face extradition to Nigeria: Report
Turner Wright8 hours agoBinance exec arrested in Kenya, could face extradition to Nigeria: ReportKenya’s police force reportedly arrested Nadeem Anjarwalla and may send the Binance executive to Nigeria to face charges
Analysts Bullish On Dogwifhat (WIF) $5 Target As Price Retests $4 Resistance
Este artículo también está disponible en español. Solana-based Memecoin Dogwifhat (WIF) is among the tokens leading the crypto market. The cryptocurrency surged over 40%
SEC Redefines Accredited Investors to Include Those With Proven Knowledge
SEC Redefines Accredited Investors to Include Those With Proven KnowledgeThe U.S. Securities and Exchange Commission (SEC) has amended the definition of accredited investors, such a
Refinable Launches Gaming Initiative to Support NFT and Play-to-Earn Movement
Refinable Launches Gaming Initiative to Support NFT and Play-to-Earn Movement sponsored Refinable, a leading NFT marketplace, today announced the Refinable Gaming
Savannah Fortis11 hours agoOKX launches crypto exchange, wallet services in BrazilThe global cryptocurrency exchange and Web3 service provider launched a local exchange and Web3 wallet in Brazil as the country continues
Bybit’s Jolly Jamboree: Trade and Win Tesla Model 3, iPhone 13 and More
Bybit’s Jolly Jamboree: Trade and Win Tesla Model 3, iPhone 13 and More sponsored ‘Tis the season of giving and Bybit, one of the world’s fastest growing cryptocurre