Hong-Kong investment fund raises $500M to push mass adoption in Web3

Despite the ongoing crypto winter, which has affected galore businesses successful the greater Web3 space, investments proceed pouring into the space.

On Jan. 17, the Hong Kong-based planetary plus manager HashKey Capital announced the closing of a $500 cardinal concern circular for its FinTech Investment Fund III.

According to the company, Fund III volition beryllium utilized to put successful infrastructures, toolings and applications that volition assistance propulsion wide adoption of blockchain and crypto technologies.

Speaking with Cointelegraph, Xiao Xiao, an concern manager astatine HashKey Capital, said the synergies successful the Web3 abstraction are a cardinal origin to what keeps investors coming backmost for more.

“Web3 is increasing excessively accelerated to beryllium ignored. Many accepted institutions and net giants are funny successful crypto. Some are learning however to enactment successful this paradigm shift.”

Xiao said fiscal organizations tin spot cryptocurrency arsenic different plus people to diversify their portfolio. Likewise, helium highlighted that investing successful a money creates an casual intro to prosecute with the Web3 space.

According to the concern director, the crypto wintertime has besides seen a “significant change” successful the benignant of capitalist entering the space.

“As much and much organization investors join, concern decisions are babelike connected the longer-term worth and return, alternatively than short-term objectives.״

Founded successful 2018, HashKey Capital has managed implicit $1 cardinal successful lawsuit assets and has invested successful immoderate of the industry’s biggest players. This includes projects specified arsenic Animoca Brands, Polygon, Moonbeam and Blockdaemon, among others.

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Xiao said arsenic acold arsenic abbreviated word investments are concerned, those creating projects with existent beingness usage cases are connected everyone’s radar. 

In the past fewer years, the infrastructure furniture has seen large innovations. This furniture includes interoperability, privateness and information availability, among others. However, determination haven't been galore existent adopted cases.

“The mediate layer, which incorporates infrastructure into existent usage cases, tin truthful beryllium considered highly important. And this benignant of mediate furniture should beryllium productized and casual to use.”