HashKey Capital Secures $250M First Close for Fund IV
- HashKey Capital secured $250M in the first close of Fund IV, targeting a $500M final raise.
- Fund IV will focus on blockchain infrastructure, tooling, and scalable crypto use cases.
- The rise signals renewed institutional demand as crypto markets and regulation stabilize.
HashKey Capital has completed the first closing of its fourth crypto fund, securing US$250 million in commitments. The manager said the raise supports a broader push toward global blockchain adoption. It also reflects steady institutional demand as market structure and regulation mature.
The firm named the vehicle HashKey Fintech Multi-Strategy Fund IV. HashKey Capital said it aims to reach a final close of US$500 million in total assets under management. The fund will invest across public and private markets, with an emphasis on scalable blockchain projects.
Fund IV Secures US$250M, With a US$500M Final AUM Goal
HashKey Capital said Fund IV attracted commitments from institutional investors, family offices, and high-net-worth individuals. The firm said the first close exceeded its initial expectations. It also indicated that fundraising continues toward the US$500 million target.
The firm linked the raise to demand for focused crypto exposure from long-term allocators. HashKey Capital cited performance from earlier funds as context for that demand. It said Fund I achieved a DPI of more than 10x, which signals strong realized distributions.
Multi-Strategy Crypto Fund Targets Infrastructure, Tooling, Utility
HashKey Capital said Fund IV will follow a multi-strategy investment plan across liquid and private opportunities. The firm will run a public-market strategy and pursue crossover allocations that aim to generate liquidity. It said this structure helps capture market inefficiencies while maintaining flexibility.
Additionally, Fund IV will allocate capital to private-market projects that support innovation and alpha generation. HashKey Capital said it will focus on blockchain infrastructure, developer tooling, and applications built for mass adoption. The firm also referenced opportunities where blockchain, AI, and financial services intersect.
HashKey Capital’s CEO, Deng Chao, said the fund will track growth in emerging markets. He said these markets often test real-world blockchain applications at scale. Separately, HashKey Group founder Dr. Xiao Feng said the convergence of AI, blockchain, and institutional finance shapes the next cycle of development.
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Regulated Crypto Asset Management and Listed Spot ETFs Broaden Access
HashKey Capital said it operates from Singapore and maintains a presence in Hong Kong and Japan. The firm said it manages more than US$1 billion in client assets. It also reported a portfolio of more than 400 projects across infrastructure, data, AI, and consumer technology.
In Hong Kong, HashKey Capital said it holds licensed upgrades for Type 1, Type 4, and Type 9 regulated activities. The firm said this regulated footprint supports institutional participation in crypto markets. It also said approvals enable a wider range of investment services under recognized oversight.
Moreover, HashKey Capital highlighted its liquid products, including the Bosera HashKey Bitcoin spot ETF (3008.HK) and Ether spot ETF (3009.HK). Both products trade on the Hong Kong Stock Exchange. The firm also said it plays a role in the Hong Kong Web3 Festival, which connects regional and global market participants.
Consequently, HashKey Capital positioned Fund IV as a bridge between traditional capital and on-chain markets. The firm said it expects deployment to accelerate through 2026 as institutions expand participation. Fund IV will concentrate on projects that can scale, support developer activity, and deliver practical utility.
