Arthur Hayes Bitcoin Equity Fund Seeks $250M for Acquisitions
Background: Arthur Hayes Returns with Maelstrom Equity Fund I
Arthur Hayes, co-founder of BitMEX and a notable leader in the bitcoin industry, is preparing a high-profile return to the cryptocurrency sector. Hayes’ family office, Maelstrom, aims to raise at least $250 million for its inaugural private equity vehicle, Maelstrom Equity Fund I. According to a Bitcoin Magazine report, the fund will focus on acquiring four to six mid-sized companies supporting the broader crypto ecosystem.
Maelstrom will target investments in firms providing trading infrastructure, data analytics, and technology services essential to the functioning of the cryptocurrency market. Each acquisition is projected at between $40 million to $75 million. This equity-first approach is a strategic shift for Maelstrom, which previously concentrated on token-based ventures.
Fund Strategy and Objectives
Unlike previous ventures, Maelstrom Equity Fund I is designed to invest exclusively in traditional equity rather than crypto tokens. Co-founder and managing partner Akshat Vaidya described the move, stating, “You can’t artificially inflate value with a token that isn’t used in the off-chain world” (Bitcoin Magazine). The fund’s new focus is on acquiring companies with established revenue and clear valuation models.
All acquisitions will be structured through special-purpose vehicles (SPVs), with Maelstrom acting as the anchor investor. Post-acquisition, the target companies will receive operational upgrades, management improvements, and aggressive growth strategies. Maelstrom intends to hold these investments for four to five years before exiting through sales to larger financial players.
The fundraising goal is to secure an initial close by March 31, 2026, with the full $250 million target reached by September 2026. Hayes will lead efforts jointly with Vaidya and new partner Adam Schlegel, while planning further expansions to the investment team as the fund matures.
Market Reaction and Crypto Private Equity Trends
Hayes’ re-entry into the industry coincides with a noticeable slowdown in crypto-focused private equity deals—a trend that intensified after the 2022 collapse of FTX. Nonetheless, recent significant acquisitions, such as Coinbase’s $2.9 billion takeover of Deribit and Ripple’s $1.25 billion deal for Hidden Road, suggest renewed confidence in digital asset infrastructure.
Hayes, who earlier transformed BitMEX with the invention of the perpetual swap, has commented on recent bitcoin price swings and macroeconomic events, writing on X, “$BTC on sale. If this US regional banking wobble grows to a crisis be ready for a 2023-like bailout. And then go shopping assuming you have spare capital,” as reported by Bitcoin Magazine.
Maelstrom’s new approach offers investors entry into the fast-growing and high-cash-flow crypto sector, particularly those without the resources to manage direct investments. The fund will target a diverse set of backers, including crypto investors, family offices, and institutional players like pension funds.
What’s Next for Arthur Hayes and Maelstrom?
Registration for the fund will be in the United States, and the search for strategic acquisitions is set to begin soon. With the support of seasoned leadership and recent high-profile industry deals showing positive momentum, Maelstrom Equity Fund I could play a pivotal role in further shaping the crypto infrastructure landscape.
For more coverage of cryptocurrency investments and innovation, visit the Vizi cryptocurrency section.
Sources: Bitcoin Magazine
