The first fundraising round for the fourth crypto investment fund by HashKey Capital is completed, securing $250 million. The funds will be spent on satisfying the increasing demand for blockchain infrastructure.

The fund, which has been named HashKey Fintech Multi-Strategy Fund IV, has set a target for final closure at $500 million. As per the firm, the fundraising has been conducted amongst a varied set of institutional investors, family offices, as well as high net worth individuals, which suggests support for blockchain investment, notwithstanding the recent market instability.

The fund will invest in both public and private markets, with HashKey stating it will focus on blockchain infrastructure and blockchain applications related to scalable real-world use cases. HashKey noted the fund will also look at crossover opportunities which exist at the cross-quearter between traditional finance channels and blockchain technologies, reflecting an increased integration of both worlds.

HashKey Capital, which operates from Singapore, is known as one of the largest digital asset fund managers in Asia. This company is now managing over $1 billion assets under management. In addition, HashKey Capital was involved in launching Hong Kong’s first spot bitcoin and ether exchange-traded funds. HashKey Capital is now licensed in Hong Kong.

HashKey has a rich history in the crypto space, including the earlier funding of the Ethereum project. HashKey has been managing investment interests in over 400 blockchain projects over the years. Its parent company, HashKey Holdings, recently listed its shares on the public markets in Hong Kong. This positions the company firmly in the mainstream financial markets.

The successful first close of its Fund IV is an indicator of renewed institutional support for blockchain infrastructure, especially those that aim for practical use as opposed to mere speculations. With an improvement in the regulative environment in some regions within Asia, companies such as HashKey are preparing for the future of blockchain infrastructure development.

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