Crypto Investment Firm HashKey Capital Launches Altcoin-Focused Secondary Market Fund in Hong Kong

Crypto Investment Firm HashKey Capital Launches Altcoin-Focused Secondary Market Fund in Hong Kong

Cryoto News – HashKey Capital, the investment division of the Hong Kong-based crypto financial services firm HashKey Group, has unveiled a secondary market cryptocurrency fund with a substantial focus on alternative cryptocurrencies, as reported by Reuters.

According to Reuters, the fund has already garnered interest from potential clients, including high-net-worth investors and Asian family offices. The portfolio manager, Jupiter Zheng Jialiang, disclosed that the company’s objective is to raise $100 million for this new fund within a 12-month period. HashKey Capital, boasting assets under management exceeding $1 billion, previously closed its third venture fund at $500 million in January.

Zheng Jialiang emphasized that the fund’s allocation to Bitcoin and Ethereum would be less than half of its holdings, as the fund plans to diversify into alternative cryptocurrencies and maintain a cash position.

HashKey Capital’s venture portfolio currently features companies such as Aztec, Blockdaemon, dYdX, Animoca Brands, and Polkadot, as detailed on its website.

As of the time of reporting, HashKey Capital had not responded to inquiries from The Block.

Expansion in Hong Kong: Earlier this month, HashKey Exchange achieved a significant milestone by becoming the first cryptocurrency platform in Hong Kong to secure a license under the city’s newly established regulatory framework, allowing crypto trading platforms to provide retail services. HashKey initiated its retail crypto trading services on Monday.

In an interview with The Block conducted last week, Livio Weng, Chief Operating Officer of HashKey, expressed optimism about the prospects of their retail services.

Weng stated, “We have ambitious goals to expand our registered user base to between 500,000 and 1 million by the end of this year. Furthermore, we anticipate a more bullish market in the coming year. If that materializes, we aim to cater to 10 million users by 2025.”