HashKey Capital raises new crypto fund…$250M raised in first closing

HashKey Capital, a Hong Kong-based cryptocurrency asset manager, has raised $250 million to set up a new crypto fund.

HashKey Capital said on the 24th (local time) that it completed the first closing of its new cryptocurrency fund 'HashKey Fintech Multi-Strategy Fund IV'. HashKey Capital said, "(At the first closing) we secured total investment commitments of $250 million," and "the final assets under management (AUM) target is $500 million."

This fund is HashKey Capital's fourth crypto fund. HashKey Capital said, "This fund seeks a diversified investment strategy to advance the digital asset industry, focusing on infrastructure, scalability, and mass adoption," and "it will also pursue selective private-market investments in innovative industries to enhance returns."

Meanwhile, HashKey Capital's first crypto fund achieved a distribution to paid-in (DPI) ratio of more than 10 times. DPI is an indicator showing actual cash recovery performance.

Deng Chao, CEO of HashKey Capital, said, "By securing $250 million in new capital, we are in a unique position to capture growth opportunities in emerging markets," and "Fund IV will provide the essential momentum to scale such innovations globally."