Hashkey Capital Raises $500 Million in Third Fund
It looks like even a global crypto market downtrend can’t keep Hashkey Capital from making great strides in the venture capital space. Despite the market being down, the Asia-based VC firm has announced on Monday, June 15, 2020, that it has raised $500 million for its third fund.
Hashkey’s Expanding Reach
Hashkey Capital has been leading the charge to expand access to capital in Asia’s blockchain and digital currency space since its establishment in 2018. The firm, which has raised $375 million across its first two funds, is continuing to grow, drawing investments from some of the world’s leading family offices and institutions, including Dymon Asia, Kenetic Capital, and SBI Group.
What the Third Fund Means for Hashkey
The $500 million latest funding round will be used by Hashkey to co-invest with other funds to extend retail investments to the likes of DeFi, technology, blockchain, and cryptocurrencies such as Bitcoin and Ethereum, thereby exponentially increasing the presence of these digital assets in Asia.
Hashkey’s Ambitious Plans
By the end of 2020, Hashkey plans to invest in 30 global breakthrough blockchain businesses that are worth in excess of $10 million USD. To do so, they will be using the new $500 million fund to fuel investments that facilitate access to major digital assets and technology, including Bitcoin and Ethereum, to retail investors in the region.
Striking a Balance with Hashkey’s Third Fund
Hashkey is certainly setting themselves up to be a market leader, but they are also cognizant of striking a balance between risk and opportunity. Despite their ambitious goals, the firm’s Managing Partner, Cherubim Loh, makes sure to emphasize that Hashkey will remain disciplined and focused, which is balanced with their goal of driving institutional-grade access to retail investor markets.
There you have it. Hashkey Capital has managed to successfully raise $500 million for its third fund, despite a global crypto market downturn. With a clear plan and ambitious goals, it looks like Hashkey will continue to be a major player in the crypto space for years to come.
