The firm will back blockchain projects that could achieve mass adoption.
Singapore-based crypto firm HashKey Capital, the investment arm of financial services group HashKey Group, has closed its third fund with $500 million in committed capital. The fund will invest in crypto and blockchain initiatives around the world with a particular focus on emerging markets.
HashKey FinTech Investment Fund III was backed by institutional investors, including sovereign wealth funds, businesses and family offices, according to a press release. Verticals of interest include infrastructure, toolings and applications that could achieve mass adoption.
The latest HashKey fund comes during an extended bear market and a number of high-profile crypto scandals, including the collapse of multibillion-dollar exchange FTX.
“HashKey Capital has weathered at least three cycles in the industry,” said HashKey Capital CEO Deng Chao in the release. “These unique experiences and insights will be invaluable to us in navigating through turbulence.”
Launched in 2018, HashKey Capital said it manages over $1 billion in client assets. Portfolio companies include Cosmos, Aztek, Blockdaemon and ANimoca Brands. The firm operates in Hong Kong and Singapore, with a presence in the U.S. and Japan.