HashKey Capital on Friday emerged being the lead supporter for Lava network’s seed funding. Lava Network had revealed that it will be raising $15 million in a seed round before making its mainnet live. The funding comes at a time when HashKey is actively topping charts of being a lead investor in multiple blockchain-based companies.
HashKey leads Lava Networks’ seed funding round
Lava Network, a creator of modular blockchain technology, has raised $15 million in a seed fundraising round. The funding is overseen by one of the biggest investors in the blockchain realm, HashKey Capital. According to Lava, the round was also co-led by Jump Capital and Tribe Capital. Other participants include North Island Ventures, Dispersion Capital, Alliance DAO, Node Capital, Finality Capital Partners, and other investors.
HashKey tops the list of most investments
According to reports, one of the most active venture capital firms in the crypto field is HashKey Capital. A large database of 6,380 venture capital funding deals recorded by The Block in the blockchain industry shows that HashKey has put its money into a lot of firms that needed initial rounds of funding. HashKey Capital has made 321 investments in the cryptocurrency space as of this writing.
The firm is also expanding its market footfall globally. A good example of this is the recent nod in Singapore that allows HashKey to operate a crypto business. Even though Singapore is still one of the most crypto-friendly countries in the world, getting a license to operate has proven to be difficult. This is primarily because of the drawn-out registration procedure. The fact that HashKey Capital was able to obtain the license indicates the firm’s greater idea of market expansion. This also suggests that it will be able to offer regulated capital markets products through its local outlet.
Crypto funding rises after two years
A CNBC report showed that venture funding for businesses involved in the cryptocurrency space reached $1.9 billion in the fourth quarter of 2023. The figure is a 2.5% rise from the previous quarter. For the first time since the March quarter of 2022, venture capital investments in cryptocurrency businesses have increased. For cryptocurrency entrepreneurs who have been battered by the past few years of the so-called “crypto winter,” which made it considerably more difficult for founders to get capital, this statistic is encouraging.
