Quick take:
- HashKey said the Series A round attracted participation from prominent institutional investors, leading Web3 institutions, and strategic partners.
- The Group will use the funds to accelerate product diversification and build up HashKey’s Web3 ecosystem.
- HashKey’s Web3 ecosystem consists of HashKey Capital, HashKey Cloud, HashKey tokenisation and HashKey NFT.
On Tuesday, HashKey Group announced the completion of nearly $100 million Series A at a pre-money valuation of $1.2 billion. The leading Asia end-to-end digital asset financial services group said the fundraising attracted participation from prominent institutional investors, leading Web3 institutions, and strategic partners.
According to the announcement, HashKey will use the funds to advance its Web3 ecosystem, which consists of HashKey Capital – a global asset manager investing exclusively in blockchain technology and digital assets, HashKey Cloud – a blockchain node validation service, HashKey Tokenisation – which focuses on tokenisation services and its Web3 PFP incubation and community operation service provider – HashKey NFT.
Hong Kong and with operations in Singapore and Tokyo, one of HashKey Group’s core businesses includes a licensed virtual asset exchange regulated by the Hong Kong SFC. The Group’s virtual asset exchange app, launched in 2023 raced to 155,000 registered users within four months, with a daily average trading volume of US$630 million in the past 30 days.
In August 2023, the Group announced it was raising $100 million to invest in altcoins. Earlier in 2023, HashKey also revealed it had closed the HashKey FinTech Investment Fund III with $500 million in commitments.
HashKey has invested in a wide range of Web3 startups including non-custodial DeFi protocol Term Structure’s $4.25 million and virtual entertainment studio AnaotherBall’s $12.7 million seed rounds, both announced at the end of November 2023.
The Group is also an investor in the Web3 gaming studio Matr1x, which is currently building its NFT mobile game Matr1x Fire.
In October 2023, Hashkey also participated in Animoca Brands-backed Forge’s $11 million seed round for its Web3 gaming platform.
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