HashKey Capital has raised $250 million in the first close of its fourth crypto-focused investment fund, targeting a total size of $500 million. The fund will focus on early- and growth-stage blockchain projects, with emphasis on infrastructure, Web3 applications, and compliance-friendly crypto services. Backed by institutional and strategic investors, the fund reflects renewed interest in digital assets as regulatory clarity improves in key markets. HashKey said the capital will support global expansion and long-term blockchain adoption.