On Tuesday, global asset manager Hashkey, which focuses on cryptocurrency and blockchain investments, announced that it closed its third fund at $500 million. The company "HashKey Fintech Investment III" is engaged in the development of cryptographic solutions, blockchain technology and Web3 concepts.
Hashkey Capital Fund III Will Focus On Web3, Emerging Markets And Crypto Solutions
Amid Crypto Market Downturn, Global Asset Manager hash key capital announced the closing of a new fund, โHashkey Fintech Investment IIIโ, 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, managing over $1 billion in client assets.
"Hashkey Capital withstood at least three cycles in the industry," Deng Chao, Director of Hashkey Group Singapore and CEO of Hashkey Capital saying in a statement on Tuesday. โFrom each unique experience, we gained important information that will allow us to navigate through the turbulence. We are one of the few crypto investors to have been granted a license to manage funds involving digital assets in Hong Kong, with another approval in principle received for fund management in Singapore,โ the Hashkey Capital CEO added.
Despite the crypto winter, which has shaved $2 trillion from the net worth of the crypto economy, 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 saying his firm plans to increase 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 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 infrastructure, tools and applications that have the potential for mass adoption.
According to Crunchbase, the firm 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 "cooperative opportunities in digital assets, Web3, and distributed ledger technology (DLT), among others." areas". A week before partnering with ZA International, HDAG signed an agreement with SEBA Bank to "accelerate the adoption of digital assets in Hong Kong and Switzerland."
How do you see the positioning of Hashkey Capital's Fund III in the cryptocurrency and blockchain industry? Let us know what you think about this topic in the comments section below.
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