Hong Kong-headquartered crypto and blockchain asset manager Hashkey Capital has closed its third fund, HashKey FinTech Investment Fund III, at $500 million, per an announcement.
The new fund will invest globally, with a focus on the growing opportunities in emerging markets, the firm said. It aims to invest primarily in infrastructures, toolings, and applications that have potential for mass adoption.
“HashKey Capital has weathered at least three cycles in the industry. These unique experiences and insights will be invaluable to us in navigating through turbulence,” said Deng Chao, CEO of HashKey Capital and head of HashKey Singapore.
“We have maintained since the first day that the power of blockchain and crypto innovation can create a better future,” added Xiao Feng, chairman of HashKey Group.
Since its inception in 2018, HashKey Capital has managed over $1 billion. Its portfolio companies include Animoca Brands, Terra, Lightnet, Cosmos, Coinlist, Aztec, and Blockdaemon, among others.
In November 2022, HashKey was granted full licenses from the Securities and Futures Commission of Hong Kong to operate virtual asset trading platform, as well as in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore as a licensed fund management company.
Earlier in 2021, the firm received a crypto asset exchange license from the Financial Services Agency of Japan.
HashKey has recently bolstered its leadership team by appointing former Baidu senior director Jeff Lu as its chief technology officer, and former Meituan vice president Eric Zhu as chief financial officer.
Besides HashKey, there are a slew of Asian fund managers that have started to explore opportunities in the blockchain space. In January last year, Blockchain Founders Fund raised $75 million for its second fund.
Other investors include Binance Lab’s $500 million fund, Singapore-based Openspace Ventures’ Ocular, Thailand’s SCB10X and Taiwanese VC firm AppWorks.