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Web3 adoption: Hong Kong investment fund raises $500m



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Investments are still flooding the market despite the prolonged crypto winter, which has impacted several businesses in the larger Web3 space.

HashKey Capital, a global asset management based in Hong Kong, disclosed the closure of a $500 million investment round for its FinTech Investment Fund III on January 17.

The corporation claims that Fund III would be used to invest in infrastructure, equipment, and software that will accelerate the widespread adoption of blockchain and cryptocurrency technologies.

The synergies in the Web3 domain, according to Xiao Xiao, an investment director at HashKey Capital, are a major component in what keeps investors coming back for more.

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“Web3 is growing too fast to be ignored. Many traditional institutions and internet giants are interested in crypto. Some are learning how to participate in this paradigm shift.”

Financial institutions might consider cryptocurrencies as another asset class to diversify their holdings, according to Xiao. He also emphasized that buying a fund offers a simple way to enter the Web 3 area.

The investment director claims that a “substantial change” in the kind of investor joining the market has also occurred during the crypto winter.

“As more and more institutional investors join, investment decisions are dependent on the longer-term value and return, rather than short-term objectives.״ Since its founding in 2018, HashKey Capital has invested in some of the top names in the sector and handled client funds totaling over $1 billion. This covers, among other things, the works of Animoca Brands, Polygon, Moonbeam, and Blockdaemon.

See Also: New Crypto Accounting Regulations May Make Adoption Easier

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1 Comment

  1. Emidgeder

    24/01/2023 at 11:44 pm

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