Arthur Hayes’ Maelstrom Seeks $250M for Crypto Buyout Fund Amid Market Caution
BitMEX co-founder Arthur Hayes is venturing into private equity with a bold $250 million fundraising target for his family office's inaugural crypto-focused buyout fund. The vehicle, managed by Maelstrom, aims to acquire and consolidate mid-sized digital asset companies with investments ranging from $40 million to $75 million per deal.
The move comes despite a 65% year-over-year decline in crypto private equity funding, which Pitchbook data shows has dwindled to $1.4 billion in 2024 from its 2021 peak. Hayes' bet contrasts sharply with institutional investors' continued wariness following the 2022 market collapse and FTX implosion.
Maelstrom's ambitious play unfolds against a brutal fundraising backdrop - Bain & Co. estimates 18,000 funds currently compete for $3.3 trillion in capital. The fund's structure suggests Hayes sees consolidation opportunities as the crypto industry matures, with plans to acquire up to six companies.
