Lucía Peña
Arthur Hayes’ family office, Maelstrom, is preparing to raise over $250 million for a new private equity fund aimed at acquiring up to six mid-sized crypto companies, Bloomberg reports.
According to Akshat Vaidya, Maelstrom co-founder and Managing Partner, the firm plans to deploy $40 million to $75 million annually, focusing on blockchain service providers, such as trading infrastructure and analytics startups.
The crypto sector has experienced a wave of mergers and acquisitions as the market rebounds following the FTX collapse. Notable deals include Stripe’s $1.1 billion acquisition of Bridge, Ripple’s $1.25 billion purchase of Hidden Road, and Coinbase’s $2.9 billion Deribit deal. Recently, Ripple announced plans to spend $1 billion to acquire GTreasury, a treasury management firm.
Maelstrom intends to structure each acquisition via special purpose vehicles (SPVs) that target cash-generating businesses, according to Vaidya.
Maelstrom’s Investment Strategy
Founded by Hayes, co-creator of the Bitmex derivatives exchange, Maelstrom became publicly visible in 2023. The firm combines venture capital and private equity approaches, aiming for a long-term portfolio while also participating in public market investments.
The Maelstrom website emphasizes: “We back high-conviction opportunities, ranging from early-stage equity and token investments to private and public market positions, leveraging the experience, relationships, and resources of building one of the first profitable crypto unicorns.“
Additionally, Maelstrom runs a Bitcoin grant program, supporting the development of the first and largest cryptocurrency ecosystem.
