HashKey Group Announces US $360 Million Initial Closing of New Fund

HashKey Group (“HashKey Group” or the “Group”), a digital asset financial services group in Asia, announced that its asset management subsidiary has completed an initial closing of its new fund in December 2021 with commitments of US $360 million. The newly raised capital will be used to fund entrepreneurs and startups that are leading the next wave of blockchain and digital asset innovation.

According to a study by Deustche Bank, the number of global blockchain wallet users is expected to reach 200 million by 2030.ⁱ Increasingly, innovative blockchain-based applications are being developed and incorporated with AI, big data and Internet of Things, whilst mainstream enterprises are adopting the technology across various industries and financial and logistic solutions. All of these factors help bolster investor confidence in blockchain technology as use cases continue to grow.

The fund aims to provide investors institutional-grade exposure to a full spectrum of blockchain technology and crypto assets. The fund seeks to invest in companies and projects building products and services utilising blockchain technology that may include but are not limited to venture equity in Asia as well as early-stage tokens and major liquid tokens.

“Over the years, HashKey Group has invested in visionary and cutting-edge companies across the entire blockchain ecosystem”, said Deng “DC” Chao, Head of Investments at HashKey Group. “From base-layer protocols to applications, we focus on blockchain technologies that will underpin the coming generation of global tech giants. The rise of Web 3.0 is another big theme this year, as it is poised to transform the way we work, learn, transact and interact with one another. Along with blockchain, Web 3.0 promises to bring financial inclusion and allows people to take ownership of their own information, and HashKey Group is committed to fully support companies and projects who are leading this disruptive movement.”

Michel Lee, Executive President of HashKey Group, said, “The deployment of blockchain in business and consumer cases, such as DeFi, NFT and the metaverse, has grown rapidly over the past year. Many Fortune 500 companies have announced or launched their blockchain applications. We believe that this is a good time to tap into the potential of the technology and leverage the advantage of early adoption. With breadth and depth of experience and expertise in the technology, we offer a unique proposition for institutional investors looking to get involved in the growing digital asset space.”

HashKey Group is one of the most experienced global blockchain investors in Asia. Since 2015, the Group has invested in companies and projects across the blockchain ecosystem, with a focus on public chains, open source and decentralised governance applications, protocols that offer scalability, privacy and storage solutions, as well as service providers/ crypto finance players. The Group’s portfolio currently encompasses more than 110 companies in 14 countries and territories. Some of its higher profile investments include Polkadot, BlockFi, Terra, Animoca Brands, Mask, Cosmos, Harmony, Blockdaemon and Moonbeam.

About HashKey Group

HashKey Group is an end-to-end digital asset financial services group in Asia. The Group provides a complete ecosystem across the entire digital asset landscape, ranging from capital, to custody, to technologies and trading. HashKey’s senior team has deep investment, governance, and technology expertise gained at tier-one banks, regulators, and fintech ventures. HashKey identifies potential opportunities and deliver end-to-end solutions that operate within regulatory frameworks with the highest compliance standards. The Group has operations in Hong Kong, Singapore and Japan, and extensive partnerships with fintech and blockchain solutions providers, academic institutions, and associations. Official Website: https://www.hashkey.com/

ⁱ Deutsche Bank, “The Future of Payments: Series 2 Part III: Bitcoins: Can the Tinkerbell Effect Become a Self-Fulfilling Prophecy?” March 2021.