HashKey Capital 2022 Annual Review: Surviving the Winter, Welcoming the Spring

2022 marks the 7th year of our deep engagement in blockchain and cryptocurrency investment. Currently, our asset management scale has exceeded 1 billion USD.

In the past year, we continued to deepen our global investment strategy, covering the entire ecosystem of blockchain and cryptocurrency. Key areas of focus include infrastructure, protocols, data layers, Web3, etc., while paying attention to fields such as data security, custody, DID, NFT, metaverse, GameFi, and applications, adopting a combined vertical and horizontal approach:

Vertical aspect:

• Dive into the tech community to stay updated on new trends and technological directions.
• Invest driven by research, conducting in-depth exploration in vertical tracks such as ZK, cross-chain, MPC, data, and gaming.

Horizontal aspect:

• Establish long-term deep cooperation with major public chain foundations through hackathons, ecological funds, grants, etc.
• Work closely with global investment institutions to share quality project resources.
• Leveraging the invested ecosystem ( with over 300 enterprises ) for extensive coverage of quality projects.

Multi-Dimensional Investment Strength

Precise layout of early tracks

We capture high returns for investors with our forward-looking industry insights. Among the invested projects, 68 are in the first round of financing, while we assist projects in the early stages to complete long-term development plans.

Post-Investment Management for Value Creation

We provide comprehensive and tiered post-investment services for enterprises, including resource connection, talent introduction, brand marketing, etc., while urging them to operate in compliance. In 2022, 93 invested enterprises obtained subsequent financing.

Successful Fundraising and Business Expansion

In 2022, the third phase of the fund successfully raised nearly 500 million USD, gaining recognition from institutional investors such as sovereign funds and internet giants. At the same time, it obtained important compliance licenses in Hong Kong and Singapore.

Industry influence continues to rise

We have been selected for multiple prestigious lists, such as CB Insights' "Top 10 Global Crypto Funds in Q3 2022". At the same time, we actively participate in top industry events, host brand activities like Founders Day, and contribute cutting-edge insights to the industry ecosystem.

Management Team Insights Sharing

Deng Chao(HashKey Group Singapore Head, HashKey Capital CEO)

Some events that occurred in the second half of 2022 were frustrating, but they also highlighted the importance of compliance awareness in the industry. We always adhere to regulatory compliance, risk management, and information transparency. As a regulated entity, we adopt strict compliance and auditing processes, entrusting qualified custodians to safeguard client assets.

Despite the market volatility, we remain confident about 2023. We will continue to invest responsibly, seeking high-potential targets through thorough due diligence. At the same time, we will continue to provide resource support to our portfolio companies and adjust team structures to better serve the projects. We will also increase our investment in emerging markets and build relationships with key developer communities.

James Boettcher(HashKey Capital Senior Advisor)

Despite some negative events in 2022, this does not affect the fundamental advantages of blockchain technology. In the long run, it may instead accelerate industry regulation and mass adoption. We see rapid development in the fields of open finance and Web3, such as the commercialization of NFTs. Although the industry is still in its early stages, blockchain is expected to create significant investment opportunities globally.

Arron Liu(HashKey Capital Senior Consultant)

The development cycle of blockchain and Web3 is similar to that of previous emerging technologies, going through three phases: enthusiasm, hype, and the integration of reality. Currently, good regulation is needed to balance innovation and risk. Regulatory agencies should promote industry transparency without compromising privacy and innovation.

Yong Hak Huh(HashKey Capital Senior Advisor)

A series of events in 2022 accelerated the arrival of the "crypto winter," but this may ultimately benefit the long-term development of the industry, as regulation and financial security will become the focus. The crypto industry needs to improve in areas such as regulatory compliance, credit systems, long-term vision, and operational transparency to gain the trust of institutional investors.

Through the cold winter, spring is still worth looking forward to. We will continue to support the healthy development of the industry and create value for investors.