Multi-stage venture capital firm HashKey Capital which is also the investment arm of HashKey Group has finalized its third fund with $500 million to be invested in the Web3.0 ecosystem including Decentralized Finance (DeFi) and Non-fungible token (NFT). The crypto-inclined asset manager is looking forward to contributing to crypto and blockchain initiatives globally with its main focus on emerging markets.
Ultimately, the fund’s investment will cut across infrastructures and solutions that can boost mainstream adoption.
The fund dubbed “HashKey Fintech Investment III” was generated amidst the turbulent crypto market which was partly induced by the liquidity crunch faced by the now-bankrupt FTX exchange. Collectively, HashKey Fintech Investment III was pulled off with intense participation from institutional investors, including sovereign-wealth funds, businesses, and family offices.
“HashKey Capital has weathered at least three cycles in the industry. These unique experiences and insights will be invaluable to us in navigating through turbulence,” as per a published statement by Deng Chao, the Chief Executive Officer (CEO) of HashKey Capital and Head of HashKey Singapore.
“The HashKey Group was an early supporter of crypto and blockchain technology, and we are pleased to continue to take on this responsibility, and work with our partners to establish the gold standard for the industry’s sustainable growth.”
Hashkey Capital Invests in Top Projects
Additionally, Chao explained that the company was one of Ethereum’s earliest institutional investors and was the inspiration behind the ‘Shanghai Upgrade’ name for ETH.
Since its inception almost five years ago, HashKey Capital prides itself as one of the largest Asian funds with over $1 billion in assets under management (AUM). A few top projects like Cosmos, CoinList, Aztec, Blockdaemon, dYdX, imToken, Animoca Brands, Mask Network, FalconX, and Polkadot are beneficiaries of its investment
HashKey Capital holds an improved edition of a Type 9 asset management license from Hong Kong’s top financial watchdog, the Securities and Futures Commission (SFC). This Hong Kong license gives the firm permission to manage funds that invest 100% of its portfolio in digital assets.
The chairman of HashKey Group Dr. Xiao Feng said “This Type 9 license uplift reinforces our commitment to fostering and advancing the blockchain community in Hong Kong and across Asia.”
HashKey Capital also operates out of Singapore, the United States, and Japan.