Hong Kong’s HashKey targets $1 billion valuation in raise: Bloomberg

Quick Take

  • HashKey is hoping to capitalize on a suddenly favourable environment for crypto firms in Hong Kong with a big fundraise.
  • The investment firm is reportedly targeting a raise of $100-200 million at a $1 billion valuation.

HashKey Group, the Hong Kong-based crypto investment firm, hopes to raise funds at a valuation north of $1 billion.

The company is in the early innings of discussions with potential investors over a raise of $100-200 million, according to a Bloomberg report citing people familiar with the matter. The report stressed that the terms of the raise are not yet finalized.

HashKey did not immediately respond to a request for comment.

HashKey meets Hong Kong's crypto renaissance 


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The news comes as authorities in Hong Kong attempt to stage a crypto renaissance in the city. Regulators will soon unveil a new regime for crypto exchanges, while local lenders have been instructed to work with crypto firms deserving of a bank account.

Founded in 2018, HashKey has a number of business lines including venture capital investing, asset management and trading. It operates one of only two licensed crypto exchanges in Hong Kong, a bourse branded HashKey Pro. The other is BC Technology Group’s OSL.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.


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