Hong Kong's HashKey Group Raises $360M Blockchain Fund

Funding keeps pouring into blockchain, despite market turmoil.

By Eliza Gkritsi

Jan 28, 2022 at 7:40 a.m. UTC

Updated Jan 28, 2022 at 4:45 p.m. UTC

Hong Kong skyline (Ruslan Bardash/Unsplash)

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Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Follow @egreechee on Twitter

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Hong Kong's HashKey Group, the digital assets and blockchain arm of Chinese conglomerate Wanxiang Group, has received $360 million commitment from investors for its new blockchain fund.

The fund will tap into venture equity in Asian startups as well as early-stage companies and major liquid tokens, the company said in a press release on Friday. It will not target any specific verticals within the blockchain field.
Given how much the deployment of blockchain in business and consumer cases has grown in the past year, "this is a good time to tap into the potential of the technology and leverage the advantage of early adoption," Michel Lee, executive president of HashKey Group said in the press release.
HashKey Group has invested in some of the world's biggest blockchain projects, including cross-chain protocol Polkadot, crypto lender BlockFi, decentralized finance protocol Terra, non-fungible token and metaverse fund Animoca Brands, privacy tool Mask and blockchain node infrastructure provider Blockdaemon.
HashKey has also invested in firms dealing in brokerage, custody, and staking.

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Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Follow @egreechee on Twitter

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Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Follow @egreechee on Twitter