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HashKey Capital Secures $250 Million First Close for Fourth Crypto Fund, Targets $500 Million

The raise signals longer‑horizon allocations following a pullback in short‑term crypto liquidity.

Overview

  • HashKey Capital locked $250 million in commitments for its HashKey Fintech Multi‑Strategy Fund IV, which is targeting a $500 million final close.
  • The fund will invest across public and private markets with a focus on blockchain infrastructure, scalable platforms and real‑world applications, emphasizing emerging markets.
  • Commitments came from a diversified mix of institutional investors, family offices and high‑net‑worth individuals, with specific backers undisclosed.
  • The announcement follows an October deleveraging and net outflows from U.S. spot Bitcoin and Ether ETFs, reflecting reduced activity by traders and market makers.
  • HashKey Group recently listed in Hong Kong after a roughly $206 million IPO, and its shares gained about 4% following the fund news.