Gaorong Ventures Invests $30 Million in Hashkey, Valuing Crypto Unicorn at $1.5 Billion
China-based venture capital firm Gaorong Ventures has invested $30 million in Hong Kong’s Hashkey Group, a licensed digital asset exchange, at a post-money valuation close to $1.5 billion, according to a Bloomberg report.
Gaorong, known for its early investments in Chinese tech firms such as Meituan and PDD Holdings Inc., has now entered the digital asset space. The investment underscores a rare but significant move by a Chinese VC firm into a market characterized by high volatility and evolving regulations.
Hashkey Group, established in 2018, is one of Hong Kong’s first licensed crypto exchanges. Beyond trading, the company also provides venture funding and asset management services across multiple jurisdictions, including…
