Key Notes
- The fundraising boosted market sentiment, with HashKey’s stock rising over 4% on the Hong Kong Stock Exchange.
- HashKey said that it is targeting a final fund size of $500 million, driven by strong institutional interest.
- The new fund will focus on blockchain infrastructure and scalable, mass-adoption use cases.
On Dec. 24, HashKey Capital announced that the firm secured $250 million in funding for its new crypto fund. The company said that it has received significant interest from institutional players. As a result, the company’s stock, trading on the Hong Kong Stock Exchange, has surged 4.16%, while closing the trading at 5.73 HKD.
HashKey Capital Grabs $250 Million In Fresh Fundraising
The company said that the funding round has surpassed initial expectations and is now targeting a final fund size of $500 million.
Although HashKey stated that it received strong institutional interest, the firm didn’t name the investors. However, it said that the commitments came from a diversified base that includes global institutional investors, family offices, and high-net-worth individuals.
This successful close for the HashKey Capital crypto fund comes at a time when liquidity has been drying up in the crypto space. In contrast, HashKey noted that longer-term institutional capital is increasingly stepping in.
HashKey Capital said the new fund will follow a multi-strategy investment approach. The focus will be on blockchain infrastructure, scalable platforms, and use cases designed for mass adoption.
The company added that the fund is expected to continue raising capital toward its $500 million target in the next few closings. Speaking on the development, Deng Chao, CEO of HashKey Capital, said:
“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.”
Expanding Its Market Footprint
The new crypto fund comes as HashKey Capital has established its position as one of the most active institutional investors in Asia’s crypto landscape. Since its launch in 2018, the investment company has grown to manage more than $1 billion in assets and has backed over 400 projects worldwide.
Its inaugural fund has recorded a distributed-to-paid-in ratio exceeding 10x, underscoring its long-term investment performance. Last week, HashKey began trading on the Hong Kong Stock Exchange following the completion of its $206 million initial public offering.
However, the company’s stock price dipped on debut and is still trading under its IPO price of HK$6.68 per share. Today’s upside will provide some relief to investors, offering hope for further recovery.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
