Hivemind Capital Secures $60M for $300M Liquid Asset Opportunity Fund

This is the digital asset investment company’s second fund after launching a $1.5 billion blockchain fund in December 2021.
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Quick take:

  • Hivemind has raised $60 million for its liquid opportunity fund.
  • The digital asset investment manager is targeting a total sum of $300 million.
  • The company previously launched a $1.5 billion blockchain fund in December 2021.

Hivemind has secured $60 million for its $300 million open-ended liquid opportunity fund. The is is the digital asset manager’s second fund after launching a $1.5 billion closed blockchain fund.

Hivemind was founded by the ex-Citi senior trading executive Matt Zhang. The company’s new fund gives institutional investors qualified high net-worth individuals a chance to invest in cryptocurrencies when the opportunity is right.

Commenting on the launch of the new fund, Zhang the Founder and Managing Partner of Hivemind said: “We believe the liquid cryptocurrency market offers interesting opportunities, in the near future, as the next Bitcoin halving approaches and the interest rates cycle starts to pivot. Having already secured approximately $60 million, and with a goal of $300 million target size, Hivemind continues to demonstrate its ability to raise capital in a challenging market.”

Hivemind’s huge fundraising comes amid challenging market conditions, which indicates that despite the bear market, there are those who see this as an opportunity to build their portfolios while prices are low.

In addition, the crypto market overall, seems to be on a recovery trajectory since the beginning of the year, with the top two cryptocurrencies by market cap, Bitcoin and Ethereum returning about 50% year-to-date.

Hivemind’s liquid opportunity fund will focus on large market-cap tokens with a multi-strategy approach that includes investing, staking, yield generation, and event-driven trades.

The company’s inaugural blockchain fund invests in crypto infrastructure, blockchain protocols, open internet, programmable money and virtual worlds, according to a 2021 press release statement.

It tapped layer 1 blockchain platform Algorand as its first strategic partner to provide technological capability and network ecosystem infrastructure.

Its latest fund illustrates the company’s commitment to the growth of the digital asset space and web3 as others look to scale back or exit the industry. Zhang said Hivemind is doubling down with hiring and product expansion.

“We are bullish on the long-term prospects of blockchain technology, and we strive to become one of the largest digital asset investment managers as we continue our goal of scaling up our ability to raise capital and make investments.”


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