HashKey Capital's $500 million-target blockchain fund raises $250 million in first round

Core Insights - HashKey Capital has successfully closed the first round of fundraising for its fourth crypto fund, securing $250 million from various institutional investors, family offices, and high-net-worth individuals [1] - The HashKey Fintech Multi-Strategy Fund IV aims for a final close of $500 million and will invest in both public and private markets, focusing on blockchain infrastructure and applications that support real-world use cases [1] - The fund's strategy includes crossover investments to leverage opportunities at the intersection of traditional and blockchain finance [2] Company Overview - HashKey Capital is based in Singapore and has established itself as one of Asia's largest digital asset fund managers, currently managing over $1 billion in assets [2] - The firm operates under licenses in Hong Kong and has been instrumental in launching the city's first spot bitcoin and ether ETFs [2] - HashKey Capital was an early institutional investor in Ethereum and has managed over $1 billion across more than 400 crypto projects [3] - HashKey Holdings, the parent company, made its public debut in Hong Kong this month [3]