HashKey Capital's $500 million-target blockchain fund raises $250 million in first round

HashKey Capital's $500 million-target blockchain fund raises $250 million in first round The HashKey Fintech Multi-Strategy Fund IV aims will invest in blockchain infrastructure and applications with real-world use cases. What to know: HashKey Capital closed the first round of fundraising for its fourth crypto fund, securing $250 million from institutional investors, family offices, and high-net-worth individuals. The HashKey Fintech Multi-Strategy Fund IV aims to raise a total of $500 million and will invest in blockchain infrastructure and applications with real-world use cases. HashKey Capital now has over $1 billion in assets under management and has emerged as one of Asia's largest digital asset fund managers, with a history of backing prominent crypto projects, including Ethereum. HashKey Capital, a subsidiary of HashKey Holdings, said it closed the first round of fundraising for its fourth crypto fund, locking in $250 million from a mix of institutional investors, family offices and high-net-worth individuals. HashKey Capital's parent went public in Hong Kong this year. (Chris Lam/CoinDesk) The fund, HashKey Fintech Multi-Strategy Fund IV, is targeting a final close of $500 million. It will invest in both public and private markets, backing blockchain infrastructure and applications that support real-world and scalable use cases, the company said. See all newsletters The strategy includes crossover investments to capture value where traditional and blockchain finance intersect. Based in Singapore, HashKey has emerged as one of Asia’s largest digital asset fund managers and now has over $1 billion in assets under management. It operates under licenses in Hong Kong and played a role in launching the city’s first spot bitcoin and ether ETFs. The firm was an early institutional backer of Ethereum and has managed over $1 billion across more than 400 crypto projects. Its parent, Hashkey Holdings, made its public debut in Hong Kong this month. our standards . For more information, see CoinDesk's full AI Policy . More For You State of the Blockchain 2025 L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below. What to know: 2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns. This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026. More For You Polymarket points to third-party login tool after users report account breaches The platform attributed the incident to a third-party login provider, which several users speculated was Magic Labs, a popular tool for email-based logins. What to know: Prediction market Polymarket experienced a series of account breaches, with several users reporting missing funds and suspicious login attempts. The platform attributed the incident to an unidentified third-party login provider. Several users speculated the provider...

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