HashKey Group, Wanxiang's Blockchain Unit, Raises $360M Blockchain Fund

Hong Kong-based HashKey Group, a subsidiary of Wanxiang Group, has secured $360 million for its new blockchain fund. The fund will invest in Asian startups, early-stage companies, and liquid tokens across the blockchain spectrum, with a focus on harnessing the technology's potential in business and consumer applications. HashKey Group has previously invested in notable blockchain projects such as Polkadot, BlockFi, Terra, and Animoca Brands.

HashKey Group, the Digital Assets and Blockchain Arm of Chinese Conglomerate Wanxiang Group, Raises $360 Million Blockchain Fund

Hong Kong, January 28, 2022 - HashKey Group, the digital assets and blockchain arm of Chinese conglomerate Wanxiang Group, has announced a significant commitment of $360 million from investors for its new blockchain fund. The fund will focus on venture equity in Asian startups, early-stage companies, and major liquid tokens.

This investment marks a strategic move for HashKey Group, recognizing the growing adoption and transformative potential of blockchain technology in various industries. According to Michel Lee, Executive President of HashKey Group, "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."

HashKey Group has established a strong track record in the blockchain space, having invested in some of the world's most promising blockchain projects. Their portfolio includes investments in 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.

The fund's strategic allocation across venture equity, early-stage companies, and liquid tokens provides a comprehensive approach to capitalizing on the growth potential of the blockchain ecosystem. HashKey Group has also made strategic investments in firms dealing in brokerage, custody, and staking, demonstrating its commitment to developing a comprehensive suite of blockchain-related services.

With a deep understanding of the blockchain landscape, HashKey Group is well-positioned to identify and support emerging projects and companies that are shaping the future of blockchain technology. The fund's substantial capital commitment underscores the firm's confidence in the transformative potential of blockchain and its commitment to driving innovation and adoption in the industry.