Arthur Hayes’ Maelstrom Targets $250 Million for Crypto Acquisitions

Arthur Hayes’ family office, Maelstrom, is reportedly raising upwards of $250 million for a new private equity fund, according to Bloomberg. 

The fund aims to acquire as many as six medium-sized crypto firms, marking a major push by the former BitMEX co-founder into the world of crypto-focused private equity.

Focus on Blockchain Infrastructure

Maelstrom’s co-founder and Managing Partner Akshat Vaidya said the firm plans to invest between $40 million and $75 million per year, with a focus on blockchain service providers, including trading infrastructure and analytics startups. Each deal will reportedly be structured as a special purpose vehicle (SPV) targeting cash-generating businesses.

The new initiative highlights Hayes’ strategic bet on the underlying service layer of the crypto economy, rather than speculative tokens or early-stage startups.

Rising Wave of Crypto M&A

The crypto industry has seen a surge in mergers and acquisitions as the market rebounds from the FTX collapse. Beginning with Stripe’s $1.1 billion acquisition of Bridge in late 2024, deal sizes have continued to grow. 

Notably, Ripple recently announced a $1 billion acquisition of GTreasury, following its $1.25 billion purchase of Hidden Road, while Coinbase struck a $2.9 billion deal with Deribit.

Maelstrom’s $250 million fund enters this consolidating landscape, signaling a shift toward institutional capital reshaping the crypto infrastructure space.

Hayes’ Expanding Investment Vision

Hayes, best known as the co-founder of the BitMEX derivatives exchange, launched Maelstrom publicly in 2023. The firm combines elements of venture capital and private equity, building what it calls a “long-term portfolio” that also includes public market investments.

According to its website, Maelstrom invests in “high-conviction opportunities ranging from early-stage equity and token investments to private and public market positions,” leveraging the experience of having “built one of the industry’s first profitable unicorns from the ground up.”

Maelstrom info (Source: Maelstrom)

In addition to its private investment operations, Maelstrom also manages a Bitcoin grant program dedicated to funding development of the world’s first and largest cryptocurrency.