Investment scale AUM
$3.19B
HashKey Capital
强势机构加密原生基金2018 成立
HashKey Capital is an institutional asset manager focused on blockchain technology and digital assets, investing across public chains, protocols, applications, and crypto financial services. Its broad ecosystem coverage and sustained deal activity give it strong visibility among crypto-native investors.
Invested projects
248Unicorns
3Overall influence
88/10001
Organization Profile
Based on 275 historical investments · AI analysis
HashKey Capital is an institutional asset manager focused on blockchain technology and digital assets, investing across public chains, protocols, applications, and crypto financial services. Its broad ecosystem coverage and sustained deal activity give it strong visibility among crypto-native investors.
Since 2018, HashKey Capital has disclosed 275 financings across 248 projects, with about US$3.19 billion in disclosed capital. It has completed 13 deals in the past 12 months, showing a steady recent pace, with activity concentrated in Seed and other early-stage rounds, plus some Pre-A, Series A, and occasional strategic investments.
Its approach is theme-driven, centered on blockchain infrastructure and the digital asset ecosystem, spanning public chains, protocols, applications, and crypto financial services. The portfolio is skewed toward early-stage exposure with moderate diversification, and it often participates alongside others rather than relying heavily on lead-investor control.
4.6/ 5.0 Overall
Investment accuracy4.6
Exit efficiency4.4
Brand influence4.7
Theme judgement4.8
Synergy capability4.9
Activity consistency3
↗AI Advantage Case· 4
- 交易覆盖广，已披露275笔融资、248个项目，生态触达面较强。
- 近12个月仍有13笔交易，近期出手节奏稳定，显示持续活跃。
- 主题聚焦清晰，长期围绕公链、协议、应用和加密金融服务布局。
- 已披露资金规模较大，约31.90亿美元，市场存在感较强。
↘AI Risk Case· 4
- 公开领投占比仅11.27%，对项目主导权和定价影响力相对有限。
- 早期轮次占比较高，受加密周期和项目存活率波动影响更大。
- 公开信息未充分披露退出案例，退出效率与回收质量难以验证。
- 组合分布较广，若主题拥挤或赛道回撤，短期表现可能承压。
02
Investment Preferences
Core strategy
以区块链基础设施、协议与加密金融为主轴，兼顾AI/Web3交叉主题；出手以早中期为主，Seed到A轮覆盖较多，整体偏跟投但保留少量领投能力。
Comparative advantage
主题覆盖广且节奏稳定，Web3与AI相关项目占比高，能在生态早期快速捕捉高频机会；较高客单价与一定领投占比显示其在优质项目中的定价与进入能力较强。
Primary weakness
组合对Web3/AI倾斜明显，RWA占比偏低，说明在资产代币化等新叙事上的配置仍不够均衡；同时领投比例不高，可能限制其对核心项目的控制力。
Notable shift in 2026
近期出手明显向AI基础设施与加密原生应用集中，Seed与Pre-A轮密集出现，显示其在2026年前后更强调新叙事早期卡位，并延续对高质量中小额多点布局。
Lead-round share11%
Average ticket size$13.52M
Annual investment count30-50
Average exit cycle3.9 年
RWA / AI / Web3 share31%
Theme Share
RWA1.82%
AI10.55%
Web321.09%
RWA / AI / Web331.27%
03
Deals
12 项目 · 最近一年
Magma Finance · 未披露轮次DeFi / DEX · Participant
$6.00MSpaceComputer · Seed基础设施 / DePIN · Participant
$10.00MCapybobo · 未披露轮次游戏 · Participant
$8.00MRaiku · Seed基础设施 · Participant
$11.25MInversion · Seed基础设施 / Layer1 · Participant
$26.50MKite AI · Series A基础设施 / Layer1 · Participant
$18.00MaPriori · 未披露轮次DeFi / LSD · Participant
$20.00MME · Pre-A加密媒体 · Participant
--Almanak · 未披露轮次DeFi / AI 代理 · Participant
$8.45MHackQuest · Pre-A加密教育 · Participant
$4.10MDoppler Finance · SeedDeFi / 收益聚合器 · Participant
$3.00MQuestflow · Seed基础设施 / AI 代理 · Participant
$6.50M04
Co-investment Network
常见共投伙伴 TOP10
SNZ Holding加密原生基金 · 基础设施
共投 43 次 · Magma Finance / Particle Network / Cysic
SevenX Ventures加密原生基金 · 基础设施
共投 32 次 · Magma Finance / StakeStone / CASTILE
Fenbushi Capital加密原生基金 · 基础设施
共投 27 次 · Huma Finance / Tevaera / Rio Network
OKX Ventures加密项目风投部门 · 基础设施
共投 22 次 · SignalPlus / CASTILE / Compute Labs
Spartan Group加密原生基金 · 基础设施
共投 21 次 · Spot Zero / Moonveil / Sentient
Foresight Ventures加密项目风投部门 · 基础设施
共投 21 次 · Perle / Sentient / Avail
Polychain加密原生基金 · 基础设施
共投 20 次 · Brevis / StakeStone / Yala
NGC Ventures加密原生基金 · 基础设施
共投 19 次 · Perle / Humanity Protocol / Rio Network
Hash Global加密原生基金 · 基础设施
共投 19 次 · MEET48 / HackQuest / 0xScope
Coinbase Ventures加密项目风投部门 · 基础设施
共投 18 次 · FastLane / Keplr / Othentic
05
Team
Core partners
06
On-chain Holdings
共 31 个币种
| Asset | Price | Amount | Total value |
|---|---|---|---|
 WBTCWBTC | $64,441.53 | 14.84 | $956.22K |
 PendlePENDLE | $1.5946 | 583.07K | $929.77K |
 Decentral GamesDG | $0.04196856 | 3.52M | $147.74K |
 Mask NetworkMASK | $0.39659957 | 233.33K | $92.54K |
 USDTUSDT | $0.99914655 | 80.00K | $79.93K |
 1inch1INCH | $0.0738717 | 666.67K | $49.25K |
 TokenlonLON | $0.17480557 | 250.00K | $43.70K |
 DelysiumAGI | $0.00392386 | 3.20M | $12.54K |
 iZUMi FinanceIZI | $0.00144059 | 5.00M | $7.20K |
 Xend FinanceRWA | $0.00319537 | 2.19M | $6.99K |
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