- HashKey Capital, the investment arm of HashKey Group, has launched a secondary market fund.
- HashKey plans to diversify the fund with more altcoins.
- The company plans to raise $100 million over 12 months.
HashKey Capital’s New Crypto Fund includes Altcoins, Bitcoin, and Ether.
HashKey, the venture capital arm of HashKey Group, a Hong Kong-based crypto financial service, has launched a secondary market crypto fund.
According to Reuters, the venture capital company’s portfolio manager, Jupiter Zheng Jialiang, revealed that the crypto fund has secured potential clients, including Asian family offices and high net-worth investors.
HashKey Capital plans to raise $100 million for the new crypto fund within 12 months.
HashKey Capital has many achievements with venture capital, especially in the crypto industry. The investment company currently boasts $1 billion in assets under its management. The firm’s latest venture fund amassed $500 million. HashKey Capital’s portfolio includes top-tier projects like Polkadot, Aztec, Animoca Brands, Blockdaemon, and dYdX.The firm’s crypto-centric portfolio shows its commitment and interest in contributing to the development of the crypto industry.
The firm’s portfolio manager, Zheng Jialiang, also revealed that the crypto fund will consist of Bitcoin, Ether, and altcoins. The plan to diversify the secondary market crypto fund is a unique one. Crypto venture capital firms are going above the noise of volatility to invest in low-risk altcoins. The crypto investment industry has been too focused on stablecoins and popular cryptocurrencies like Ethereum and Bitcoin.
HashKey Capital’s decision to form its liquid fund with altcoins is significant to the crypto industry and altcoins.
HashKey Capital Interest in Crypto Deepens
HashKey Group’s interest in the crypto industry does not stop at investing in cryptocurrencies and crypto projects. It also covers the crypto regulation area.
In August, HashKey Group’s subsidiary, the Exchange, a crypto exchange platform in Hong Kong, received a regulatory license to offer crypto trading services.
The license is a significant feat for HashKey Group as the first crypto exchange to be granted such a license in Hong Kong, which makes the financial services firm a pioneer in the crypto regulation space.
In an interview with The Block, HashKey’s chief operating officer shared their plans to utilize their new crypto license.
“We hope to grow our registered user base to between 500,000 to 1 million by the end of this year,” Weng said. “We’re also anticipating a more bullish market next year. If that’s the case, we would target to serve 10 million users by 2025.”
Through the strategic execution of such crypto-focused ideas, HashKey Capital continues to prove itself as a firm that understands the ever-changing nature of the crypto industry. The firm has become a pioneer in adapting to the crypto industry’s development while making tactical plans.
The Hong Kong government is an avid supporter of the crypto industry. While other countries closed their doors on crypto firms and placed bans and heavy taxes on crypto trading, Hong Kong welcomed them, established crypto-friendly policies, hosted several crypto-related events, and provided support.
The city has provided support and hosted 100 crypto conferences this year.