Hong Kong's HashKey Group Raises $360M Blockchain Fund

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Hong Kong's HashKey Group, the digital assets and blockchain arm of Chinese conglomerate Wanxiang Group, has received $360 million commitment from investors for its new blockchain fund.

  • The fund will tap into venture equity in Asian startups as well as early-stage companies and major liquid tokens, the company said in a press release on Friday. It will not target any specific verticals within the blockchain field.

  • 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," Michel Lee, executive president of HashKey Group said in the press release.

  • HashKey Group has invested in some of the world's biggest blockchain projects, including 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.

  • HashKey has also invested in firms dealing in brokerage, custody, and staking.

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