HashKey Group, a digital asset financial services group in Asia, announced its asset management subsidiary has completed an initial closing of its new fund in December 2021 with commitments of US $360 million. The newly raised capital will be used to fund entrepreneurs and startups which are developing blockchain and digital asset technology and services.
According to a study by Deutsche Bank cited by HashKey, the number of global blockchain wallet users is expected to reach 200 million by 2030. To grow utility of that service, blockchain-based applications are being developed and incorporated with AI, big data, and the Internet of Things, whilst mainstream enterprises are adopting the technology across various industries and financial and logistic solutions. All of these factors help bolster investor confidence in blockchain technology as use cases continue to grow.
The fund aims to provide investors with institutional-grade exposure to a full spectrum of blockchain technology and crypto-assets. It seeks to invest in companies and projects building products and services utilizing blockchain technology that may include but are not limited to venture equity in Asia as well as early-stage tokens and major liquid tokens.
“Over the years, HashKey Group has invested in visionary and cutting-edge companies across the entire blockchain ecosystem,” said Deng “DC” Chao, head of investments at HashKey Group. “From base-layer protocols to applications, we focus on blockchain technologies that will underpin the coming generation of global tech giants.”
The rise of Web 3 is another big theme this year, as it is poised to transform the way we work, learn, transact and interact with one another. Along with blockchain, Web 3 promises to bring financial inclusion and allows people to take ownership of their own information, and HashKey Group is committed to fully support companies and projects who are leading this disruptive movement.”
“The deployment of blockchain in business and consumer cases, such as DeFi, NFT and the metaverse, has grown rapidly over the past year,” HashKey Group executive president Michael Lee added. “Many Fortune 500 companies have announced or launched their blockchain applications. We believe that this is a good time to tap into the potential of the technology and leverage the advantage of early adoption. With breadth and depth of experience and expertise in the technology, we offer a unique proposition for institutional investors looking to get involved in the growing digital asset space.”