Key Takeaways
- • Maelstrom, the family office of BitMEX co-founder Arthur Hayes, is raising at least $250 million for a new private equity fund to acquire medium-sized crypto infrastructure and data firms, according to Bloomberg.
- • The fund, Maelstrom Equity Fund I per publisher reports, plans to invest $40 million to $75 million annually across four to six acquisitions.
- • The vehicle marks a strategic shift from Maelstrom's earlier token-focused venture investments to equity stakes in cash-generating blockchain service providers.
- • Maelstrom targets a first close by March 31, 2026, with full fundraising completed by September 2026, and is registered in the US.
- • Co-led by Hayes, Managing Partner Akshat Vaidya and newly hired partner Adam Schlegel, the fund seeks backers including crypto investors, family offices and pension funds.
Summary
Arthur Hayes' family office, Maelstrom, is raising at least $250 million for a new private equity fund targeting medium-sized crypto infrastructure and data firms, according to Bloomberg. The fund will focus on companies providing essential services to the cryptocurrency ecosystem, including trading infrastructure and analytics providers, according to The Block's report.
Maelstrom co-founder and Managing Partner Akshat Vaidya said the firm will invest between $40 million and $75 million annually, targeting four to six companies. The fundraising effort comes as the crypto industry sees renewed merger and acquisition activity following the market downturn after FTX's collapse. Cited recent transactions include Stripe's $1.1 billion purchase of Bridge in late 2024, Ripple's $1.25 billion acquisition of Hidden Road, and Coinbase's $2.9 billion deal with Deribit.
The new vehicle represents a departure from Maelstrom's previous approach. While earlier venture investments concentrated on tokens, the private equity fund will focus solely on equity stakes. Vaidya said the fund seeks blockchain service providers with cash-generating business models whose valuations do not depend on unutilized tokens. Each acquisition will be structured through a special purpose vehicle, with Maelstrom serving as anchor investor.
The fund is registered in the US and plans to attract crypto investors, family offices and institutional players such as pension funds. Maelstrom aims for a first close by March 31, 2026, with full fundraising completed by September 2026. BitMEX co-founder Arthur Hayes will lead the effort alongside Vaidya and newly hired partner Adam Schlegel, with the team expected to expand as the fund grows. Hayes co-founded Maelstrom with Vaidya in 2023. The firm describes a patient capital approach that prioritizes quality projects over rapid deployment, and the Maelstrom Bitcoin grant program reflects its broader commitment to crypto ecosystem development.
Maelstrom co-founder and Managing Partner Akshat Vaidya said the firm will invest between $40 million and $75 million annually, targeting four to six companies. The fundraising effort comes as the crypto industry sees renewed merger and acquisition activity following the market downturn after FTX's collapse. Cited recent transactions include Stripe's $1.1 billion purchase of Bridge in late 2024, Ripple's $1.25 billion acquisition of Hidden Road, and Coinbase's $2.9 billion deal with Deribit.
The new vehicle represents a departure from Maelstrom's previous approach. While earlier venture investments concentrated on tokens, the private equity fund will focus solely on equity stakes. Vaidya said the fund seeks blockchain service providers with cash-generating business models whose valuations do not depend on unutilized tokens. Each acquisition will be structured through a special purpose vehicle, with Maelstrom serving as anchor investor.
The fund is registered in the US and plans to attract crypto investors, family offices and institutional players such as pension funds. Maelstrom aims for a first close by March 31, 2026, with full fundraising completed by September 2026. BitMEX co-founder Arthur Hayes will lead the effort alongside Vaidya and newly hired partner Adam Schlegel, with the team expected to expand as the fund grows. Hayes co-founded Maelstrom with Vaidya in 2023. The firm describes a patient capital approach that prioritizes quality projects over rapid deployment, and the Maelstrom Bitcoin grant program reflects its broader commitment to crypto ecosystem development.
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