Hashkey Capital Raises $500 Million For Its Third Fund Despite Crypto Market Downturn
Amidst the slump in the crypto market, global asset manager Hashkey Capital announced the closure of a new fund, “Hashkey Fintech Investments III”, after raising $500 million and according to this the fund will be opened to institutional investors such as sovereign wealth funds. Funds, well-known family offices and corporations did not receive strong support. Speaking of which, it appears to be one of the largest crypto funds in Asia as it takes upon itself the responsibility of locking in over $1 billion in client assets.
Deng Chao, Head of HashKey Group Singapore and CEO of HashKey Capital, said in a statement on Tuesday that Capital has faced at least 3 cycles in the industry and each unique experience has certainly brought us valuable insights and with it -With this information that will allow us to navigate through the turbulence and we are one of the few crypto investors granted a license to manage funds linked to digital assets in Hong Kong and fund management in Singapore An in-principle and specific approval has been received for The CEO further says that despite the crypto winter and turbulence in it, $2 trillion has been shaved off the net worth of the economy, while investments in the space continue. For example, speaking at the World Economic Forum event in Davos, Switzerland, Yat Siu, co-founder of Animoca Brands, revealed that his firm plans to grow its own portfolio by thirty percent by 2023, while Hashkey’s Fund III For, the fund will be “positioned to advance exceptional crypto and blockchain initiatives around the world, with a focus on growing opportunities in emerging markets. Will help or benefit to know all kinds of segments and the objective of this fund is to invest primarily in infrastructure and applications that require mass adoption.
According to CrunchBase, the company has a portfolio of fifty-six investments to date, including investments in the Aztec, Cosmos, CoinList, Falcon X, Polkadot, and Animoca brands. In mid-December 2022, Hashkey Digital Asset Group (HDAG) of the firm sought to explore partnerships with Hong Kong-based ZA International on “cooperative opportunities on distributed technology in digital assets, Web3, and other areas.” ZA International 1 week ago, HDAG signed an agreement with SEBA Bank to accelerate the adoption of digital assets in Hong Kong and Switzerland”.