HashKey Has ‘Weathered at Least Three Cycles.’ $500M Fund Is Latest Proof.

Share This Post

HashKey Capital has raised half a billion dollars for the cryptoasset manager’s latest vehicle. 

The fund, HashKey Fintech Investment III, is designed to key in on “the growing opportunities in emerging [digital asset] markets,” the firm said in a statement on Tuesday.

It’s a notable $500 million haul in unsteady crypto markets, and the funds have been earmarked to invest in a number of cryptocurrency and blockchain initiatives globally — under that emerging markets focus. Limited partners, according to HashKey, include sovereign wealth funds and family offices.

HashKey has “weathered at least three cycles in the industry,” according to Dennis Chao, the asset manager’s chief executive. The firm’s parent company, Hong Kong-headquartered HashKey Group, is known as a specialist in investing in blockchain projects in Asia and was an early backer of Ethereum — dating back to 2015.

“These unique experiences and insights will be invaluable to us in navigating through turbulence,” Chao said in a statement.

Chao’s firm has since backed a number of crypto projects that have since moved into the limelight, including Cosmos, dYdX, Animoca Brands and Polkadot. The cryptoasset manager launched in 2018.

HashKey Group inspired Ethreum’s upcoming “Shanghai Upgrade,” according to Xia Feng, the investment manager’s chair. Shanghai is slated as the next major upgrade for the Ethereum network and is designed to allow the proof-of-stake blockchain’s validators to withdraw their staked ether, the network’s native token. 

The pending upgrade, which appears to be on track to occur in March, marks the first time validators — which verify transactions on the protocol — would mark the first time validators are able to cash in on their locked up ether, which has been accruing staking rewards. Ethereum hit half a million validators earlier this month as momentum builds toward Shanghai.

“We have maintained since the first day that the power of blockchain and crypto innovation can create a better future,” Feng said. “Fund III will follow our time-tested investment principles while also looking for game-changers, which would be those that will propel the industry forward into the next stage.”

Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.

Interested in working at Blockworks? We’re hiring journalists, a VP of Sales, and engineers! Check our open positions.

Can’t wait? Get our news the fastest way possible. Join us on Telegram.

HashKey Has ‘Weathered at Least Three Cycles.’ $500M Fund Is Latest Proof. is written by for blockworks.co

Related Posts

Fantom: Revolutionizing Blockchain Technology

Fantom, often abbreviated as FTM, is a decentralized blockchain...

Bitcoin halving shows new users that ‘code is ultimately the law’ in crypto

As the Bitcoin (BTC) halving marked another major milestone...

Yuga Labs Burns 14% of HV-MTL Supply After Faraway Acquisition

Recently, Yuga Labs, the creator of the popular Bored...

Spotting Cryptocurrency Scams: Red Flags and Warning Signs

With the rise of cryptocurrencies, the number of scams...

Web3 Watch: Someone at Adidas likes crypto culture

As NFTs boomed and Meta went all-in on the...

Splinterlands Releases Promo Cards for Bitcoin Halving Event

Splinterland’s New Reward System and Glint StoreIn addition to...
Ethereum (ETH) $ 3,221.39
Bitcoin (BTC) $ 66,560.83
Tether (USDT) $ 1.00
XRP (XRP) $ 0.553105
BUSD (BUSD) $ 1.00
Cardano (ADA) $ 0.503904
Dogecoin (DOGE) $ 0.161273
Litecoin (LTC) $ 84.94
Solana (SOL) $ 158.16