Arthur Hayes’ Maelstrom Seeks $250 Million for Crypto Infrastructure Fund
Arthur Hayes' family office, Maelstrom, is raising at least $250 million for a private equity fund targeting medium-sized crypto infrastructure and data firms. The focus will be on companies providing essential services to the cryptocurrency ecosystem.
- Maelstrom plans to invest $40-$75 million annually in four to six companies, particularly blockchain service providers like trading infrastructure and analytics startups.
- This fundraising effort aligns with increased merger and acquisition activity in the crypto industry post-market downturn after FTX's collapse.
Recent major deals include:
- Stripe's $1.1 billion purchase of Bridge
- Ripple's $1.25 billion acquisition of Hidden Road
- Coinbase's $2.9 billion deal with Deribit
Strategic Shift from Tokens to Equity
- The new fund will focus on equity stakes rather than tokens, seeking blockchain service providers with cash-generating models.
- Acquisitions will be structured through special purpose vehicles, with Maelstrom as the anchor investor.
- The strategy emphasizes sustainable revenue streams and clear financial metrics.
Timeline and Fundraising Targets
- The fund is registered in the US, aiming for diverse backers including crypto investors, family offices, and institutional players.
- First close is targeted by March 31, 2026, with full fundraising by September 2026.
- Arthur Hayes will lead the effort with Akshat Vaidya and Adam Schlegel.
The fund adopts a patient capital approach, focusing on quality projects. Hayes' recent altcoin purchases indicate his continued active engagement in crypto markets.