HashKey Capital samlar in 250 miljoner dollar till fjärde kryptofonden

HashKey Capital, the investment arm of the Hong Kong-based crypto company HashKey Group, has successfully completed the first close of its fourth fund (Fund IV), raising $250 million from investors. This move comes amid "significant interest" from institutional players, despite the current volatility in the crypto market and reduced liquidity. The fund is focused on multi-strategy investments in crypto infrastructure, scalable solutions, and mass adoption of blockchain technologies, with a particular emphasis on emerging markets.

According to the company's official announcement, the first close exceeded initial expectations, with the overall target amount for the fund being $500 million. The investor base includes global institutions, family offices, and high-net-worth individuals (HNWI), although specific names are not disclosed. HashKey Capital CEO Deng Chao emphasized:

"With $250 million in new capital, we are uniquely positioned to capture massive growth in emerging markets. These regions are a true testing ground for real-world blockchain applications, and Fund IV will provide the necessary fuel for global scaling of these innovations."

This fund continues the strategy of HashKey's previous initiatives, focusing on projects that promote decentralization and the integration of crypto into everyday life, including AI, DeFi, and infrastructure solutions.

HashKey Capital, founded in 2018 with headquarters in Singapore and operations in Hong Kong and Japan, manages assets worth over $1 billion and has a portfolio of more than 400 investments worldwide. The company is part of HashKey Group, which owns a licensed crypto exchange in Hong Kong and recently launched the first spot ETFs for Bitcoin and Ether in the region. In November 2025, HashKey Group successfully went public on the Hong Kong Stock Exchange through an IPO worth $206 million, with shares rising 4% immediately after listing. The company's first fund demonstrated impressive results with a distributed to paid-in capital ratio (DPI) exceeding 10x, underscoring its expertise in high-risk investments.

This fundraising is taking place during a period when the crypto market faces challenges: following the crash on October 10, 2025, market makers have reduced their participation, and outflows from Bitcoin and Ether ETFs signal a decline in short-term liquidity. However, as analysts note, long-term capital from institutions remains strong. According to data from CryptoQuant and Glassnode, institutional interest in crypto grew by 25% in 2025, with a focus on Asian markets, where regulatory changes in Hong Kong and Singapore facilitate access to global liquidity pools. Compared to other funds, such as the recent $500 million fund from Paradigm or the $300 million from Andreessen Horowitz, HashKey's Fund IV stands out with its emphasis on emerging markets, where blockchain growth is projected at 40% annually until 2030 according to McKinsey data.

Experts believe that HashKey's success signals a broader trend: institutions are reevaluating their exposure to crypto, shifting from speculation to strategic investments in fundamental technologies.

"In a period of tighter liquidity, funds like Fund IV will become catalysts for the next boom in DeFi and Web3," comments an analyst from CoinJournal.

Taking into account the current crypto market capitalization of $3 trillion and Bitcoin's price around $88,000, such initiatives could stabilize the sector ahead of 2026.