One of Asia’s largest blockchain investors, HashKeyCaptial, has announced the closing of its third fund with a $500 million commitment to building Web3. Additionally, the HashKey group made the announcement today, sharing that the HashKey FinTech Investment Fund III has raised the capital for its continued building of applications and tools within Web3.
The global asset managing firm announced the development in a press release. Highlighting the HashKey Group, made up of HashKey Captial, Haskey FinTech Investment, and affiliates had “received strong support from institutional investors including sovereign wealth funds, corporations, and family offices.”
HashKey Captial Raises $500 Million for Web3 Building
There is no understating just how difficult the year 2022 was for those in the crypto sphere. Yet, as DeFi took a hit in various ways, 2023 has already been marked by an incredible turnaround. Furthermore, the incredible work being done within blockchain technology and the advancement of Web3 remained positive. Now, that work can continue with some incredible funding raised by the HashKey group.
The collective, headed by HashKey Capital, announced a massive $500 million investment from their HashKey FinTech Investment Fund III. The capital raised, according to a press release, will be used to, “advance outstanding crypto and blockchain initiatives globally.”
Specifically, through, “focusing on the growing opportunities in emerging markets.” Moreover, the fund will, “provide investors with institutional-grade exposure to all facets of blockchain and crypto technologies.” While also aiming to “invest primarily in infrastructures, toolings, and applications that have the potential for mass adoption.”
Deng Chao, the CEO of HashKey Capital, also discussed the unique opportunity that the funding grants the industry through its experience. Stating, “HashKey Captial has weathered at least three cycles in the industry. These unique experiences and insights will be invaluable to us in navigating through turbulence.”
“We are one of the few crypto investors that have been granted a license for fund management involving digital assets in Hong Kong,” Deng added. “With another approval in principle received for fund management in Singapore.” Conclusively stating, “The HashKey Group was an early supporter of crypto and blockchain technology, and we are pleased to continue to take on this responsibility and work with our partner to establish the gold standard of our industry’s sustainable growth
.”