Arthur Hayes’ Maelstrom Seeks $250M for Crypto Private Equity Fund

Maelstrom, the family office of BitMEX co-founder Arthur Hayes, is raising at least $250 million for its debut private equity fund targeting mid-sized crypto businesses. The Maelstrom Equity Fund I will deploy $40M-$75M per transaction across four to six acquisitions, focusing on profitable off-chain infrastructure providers rather than token projects—a deliberate hedge against market volatility and regulatory uncertainty.

The U.S.-registered vehicle aims for a first close by March 2026, courting institutional investors including pension funds and crypto-native capital. Led by Hayes alongside Akshat Vaidya and Adam Schlegel, the fund will structure deals through SPVs with typical hold periods of four to five years.

This MOVE coincides with a resurgence in crypto M&A activity, as traditional finance increasingly seeks operational footholds in blockchain-adjacent businesses. The strategy mirrors growing institutional preference for cash-flowing enterprises over speculative token bets.