Arthur Hayes Launches New Private Equity Fund
Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, is leading an ambitious initiative through his family office, Maelstrom, to create a new private equity fund. This fund, named Maelstrom Equity Fund I, aims to raise a minimum of $250 million.
Investment Strategy
According to a recent report from Bloomberg, the fund is targeting acquisitions of medium-sized firms in the crypto sector, particularly those that are either undervalued or in distress. The fund plans to invest between $40 million to $75 million into each targeted company, with aspirations to finalize as many as six investments within the cryptocurrency landscape.
The focus will be on securing equity stakes in entities that offer trading and data analytics services, utilizing special purpose vehicles for each transaction.
Shift in Investment Focus
Co-founder and managing partner Akshat Vaidya emphasized that the fund aims to acquire profitable platforms with solid financial foundations and reasonable valuations. This marks a shift away from the older practice of investing in startup tokens. Instead, Maelstrom is concentrating on “off-chain” businesses in the cryptocurrency realm, which retain observable value.
“You can’t artificially inflate value with a token that isn’t used in the off-chain world.”
Fund Registration and Target Investors
In collaboration with partner Adam Schlegel, Hayes intends to register the fund in the United States. Their fundraising strategy will primarily target institutional investors such as pension funds and other family offices. This initiative aims to provide access to crypto investments for those who lack the technical know-how typically required to navigate this complex market.
Future Goals
With a target of reaching $1 billion in total commitments by September 2026, the first closing for Maelstrom Equity Fund I is projected for March 2026, marking a significant entry for Hayes into the private equity sphere focused on cryptocurrency.
