Capital recently raised $500 million in investments from a range of institutional investors, including sovereign wealth funds, corporations, and family offices. the capital will be used to invest in blockchain infrastructure, applications, and tools that have the potential for mass adoption. hashkey group, a strategic partner of wanxiang labs, served as the inspiration behind the name of ethereum’s upcoming “shanghai upgrade” and was ethereum’s earliest corporate investor.
Fund was raised in 2020, following ethereum devcon which was held in shanghai in 2017 and sponsored by wanxiang labs. hashkey group has also contributed to other popular groups including cosmos, coinlist, dydx, animoca brands, polkadot, and others. the fund emerged at a time of great distress for the crypto market and industry, yet hashkey has weathered three such cycles already.
Capital raised the fund in order to provide investors with “institutional-grade exposure” to all facets of the crypto industry. the focus of the raised capital will be on opportunities in emerging markets. hashkey group chairman dr. xiao feng said the fund will follow their time-tested investment principles, while hashkey capital ceo deng chao said they are pleased to continue to take on the responsibility of establishing the gold standard for the industry’s sustainable growth. hashkey capital is one of 22 strategic investors in decrypt.