Arthur Hayes’ household workplace, Maelstrom, is angling to lift $250 million for a debut non-public fairness fund focusing on mid-sized crypto corporations, in accordance with a Bloomberg report on Friday.
The fund plans to take a position $40 million to $75 million per deal, buying as much as six firms centered on buying and selling infrastructure, analytics, and associated companies.
Maelstrom goes after non-token fairness offers the place valuations are based mostly on money flows, not speculative token allocations.
“These varieties of companies are rather a lot simpler to amass,” Maelstrom co-founder and managing associate Akshat Vaidya mentioned. “You’ll be able to’t artificially inflate valuations with an unused token.”
The fund, which can be registered within the U.S., intends to construction acquisitions through special-purpose autos, anchoring with its capital and bringing in co-investors. Vaidya targets a primary shut by March 31 subsequent yr with full funding wrapped by September 2026. Hayes and associate Adam Schlegel will lead the hassle, with plans to construct out a broader administration group.
Hayes himself stays a outstanding determine in crypto, credited with inventing perpetual swaps and influencing improvements corresponding to Ethena’s artificial greenback.
Maelstrom didn’t reply to CoinDesk’s request for additional remark.