HashKey Capital has announced the first closing of its fourth fund, HashKey Fintech Multi-Strategy Fund IV (Fund IV), securing total commitments of US$250 million.
The amount exceeds the firm’s initial expectations, with the final fund size targeted at US$500 million, subject to further closings.
Fund IV is managed by HashKey Capital Investment, part of the wider HashKey Group.
Its investor base includes institutional investors, family offices and high-net-worth individuals.
HashKey Capital said the strong first close reflects continued institutional interest in blockchain-focused strategies despite ongoing market volatility.
The firm noted that its first fund has achieved a distributed-to-paid-in (DPI) ratio of over 10x.
The new fund will adopt a multi-strategy investment approach, combining public market strategies with liquidity-generating crossover opportunities.
It will also make selective private market investments, with a focus on blockchain infrastructure, scalable platforms and applications aimed at mass adoption.
According to the firm, this structure aims to capture inefficiencies across digital asset markets while maintaining flexibility across market cycles.
Founded in 2018, HashKey Capital manages more than US$1 billion in assets and has invested in over 400 blockchain-related projects globally.
The firm was an early institutional investor in Ethereum and operates from Singapore, with offices in Hong Kong and Japan.
In Hong Kong, HashKey Capital holds upgraded licenses for Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities.
It has also played a role in launching Hong Kong’s spot Bitcoin and Ether exchange-traded funds and organising the Hong Kong Web3 Festival.
“With US$250 million in new capital, we are positioned to support blockchain applications emerging from developing markets, where real-world use cases are increasingly being tested,”
said Deng Chao, CEO of HashKey Capital.
Fund IV aims to provide investors with diversified exposure across the digital asset and blockchain ecosystem.
Featured image credit: Edited by Fintech News Singapore, based on image by wirestock via Freepik
