Hashkey Capital’s 3rd Round of Funding
The crypto market is still facing a downturn and conditions remain unchanged a bit. Yet there have been a few events that have been doing great and one of them is the third round of fundraising initiated by Hashkey Capital.
Hashkey Capital is a globally renowned asset management firm that primarily deals in digital assets.
The firm had in the past successfully concluded two of its funding rounds and collected funds more than it had imagined.
Hashkey Capital has now been over with its third round of fundraising which was initiated as “Hashkey Fintech Investment III”.
The fundraising round has been concluded on a high note after collecting funds of over $500 Million in total. The collection of $500 million funds and more goes to demonstrate the scale of the project.
Although it is just the beginning of 2023, still, the Hashkey Capital funding round may prove to be one of the largest fundraisers in the year.
As has been informed by Hashkey Capital itself, the third round of funding garnered huge attention from the institutional sector.
Despite the market downtrend, which is slowly picking up the pace, institutional investors want to gain more knowledge of the sector.
For this purpose, they are willing to make a huge investment, be it investing hundreds of millions of dollars into projects that are yet to be launched.
For instance, some institutional investors who participated in fundraising included renowned corporates, celebrated family offices, and acclaimed sovereign wealth funds, etc.
The feedback was expected because Hashkey Capital is an acclaimed crypto management fund that is immensely popular in Asia and worldwide.
As of 31st December 2022, crypto assets, belonging to high-profile customers, worth over $ 1 Billion are under the management of Hashkey Capital.
Remarks of Hashkey Capital’s CEO
The leading crypto asset management firm of Asia’s CEO is Deng Chao who is also in charge of the affairs of Hashkey Group Singapore.
Chao stated on 16th January 2023 that over the past many months, his firm had undergone unique experiences. He said that this unique experience has equipped the firm to pass through turbulent times without being affected.
Chao opined that Hashkey Capital is currently the single entity that is privileged to have the license to do business in Hong Kong.
He also apprised that the firm has been granted further approval to introduce new investment funds in Singapore.
Crypto Market Conditions
Hard truth is that the crypto market is still under influence of ‘crypto winter’ which has already taken away $2 Trillion from the economy.
Despite this, investments continue to pour into the industry not only by individual investors but also by renowned institutional investors.
Very recently, Yat Siu, the founder of Animoca Brands said at an event that his company wishes to invest in cryptocurrencies.
He said that Animoca Brands has plans to increase crypto holding by 30% which is expected at the end of the preceding year.
Collected Funds Earmarked
According to the CEO of Hashkey Capital, the funds collected in the third round shall be utilized for furthering the future objectives of the firm.
He explained that Hashkey Capital is focusing on launching a number of initiatives globally that pertain to the blockchain as well as crypto. He also said that this time his firm is to target emerging markets mainly in the Asian region.
The objective of the firm is also in consonance with its initiative of the third round of funding.
The fundraising campaign suggested that huge opportunities for investing in technologies relating to blockchain and crypto shall be provided to investors.
It is further detailed that funds shall be utilized towards the development of blockchain and crypto tools, applications, and infrastructure.
Additionally, the focus would also be on the global adoption of such tools, apps, and infrastructure explained the CEO of Hashkey Capital.