Digital asset manager HashKey Capital will be investing $500 million into advancing blockchain initiatives in emerging markets.
HashKey Capital, a cryptocurrency asset management based in Hong Kong, has closed its third fund with $500 million in capital committed to developing the Web3 ecosystem. Investors in HashKey’s fund, “FinTech Investment Fund III” (Fund III), range from sovereign wealth funds, corporations, and family offices.
“Capital from Fund III will be deployed to advance outstanding crypto and blockchain initiatives globally, focusing on the growing opportunities in emerging markets.”
— HashKey Group newsroom announcement, January 17, 2023.
Raised capital will be invested in blockchain infrastructure, applications, and versatile tools. The financial house will also be providing its investors with “institutional-grade exposure” to all facets of the crypto industry. HashKey Capital has been invested in the crypto industry for three cycles now, therefore possesses unique and invaluable insights.
Raised capital will fund building and scaling the Web3 ecosystem, which refers to emerging blockchain-based technologies, including cryptocurrency, decentralized finance (DeFi), and NFTs.
HashKey Group was the inspiration behind naming Ethereum’s upcoming “Shanghai upgrade”, which will enable stakers to withdraw their assets from the network’s staking contract by March 2023. The digital asset finance house had been Ethereum’s earliest corporate investor, and went on to fund other projects like Polkadot and Coinlist.
Fund III is very much right on time, given the tumultuous market and industry conditions. Given the firm’s portfolio, which includes management of over $1 billion in client assets since 2018, as well as its stable dedication to the cryptocurrency industry, HashKey is a key player in ensuring that invaluable technologies, apps, and tools don’t get lost to a lack of funding.