Arthur Hayes, co-founder of BitMEX, is spearheading a major initiative through his family office, Maelstrom, which is raising $250 million for a crypto equity fund focused on acquiring mid-sized blockchain infrastructure companies. The Maelstrom Equity Fund aims to deploy capital into profitable, off-chain firms that provide essential services such as trading platforms, custodians, wallets, data providers, and analytics, avoiding token-based ventures for more predictable valuations.
The fund plans to acquire up to six companies, with each deal structured through special-purpose vehicles (SPVs) and investments ranging from $40 million to $75 million. Led by Akshat Vaidya, Arthur Hayes, and Adam Schlegel, the strategy involves improving operations and targeting an exit within four to five years. The first close is expected by March 2026, with a final close by September 2026, and will cater to institutional investors like family offices and pension plans.
This move capitalizes on the rebounding crypto M&A market, which saw record volumes of $10 billion in Q3 2025, amid broader industry consolidation. Hayes views current market conditions as a strategic window to strengthen the ecosystem's core infrastructure, signaling a shift toward sustainable, utility-focused investments over speculative hype.
ETH
UNI
AVAX