TLDR
- Arthur Hayes’ Maelstrom launches $250M crypto equity acquisition fund.
- Fund to acquire up to six mid-sized blockchain infrastructure firms.
- Focus shifts from token plays to profitable off-chain companies.
- Each deal structured via SPVs for transparency and flexibility.
- Crypto M&A hits $10B as Maelstrom leads disciplined market rebound.
Arthur Hayes’ family office, Maelstrom, has launched Maelstrom Equity Fund to raise at least $250 million for crypto acquisitions. The firm plans to acquire up to six medium-sized blockchain companies with strong financial performance. It aims to deploy between $40 million and $75 million per deal through structured special-purpose vehicles.
The Maelstrom Equity Fund will prioritize firms that provide trading infrastructure, analytics, and blockchain services over token-based ventures. It seeks to capitalize on the rebound in digital assets after the downturn triggered by the FTX collapse. The fund expects to complete its first close by March 2026 and final close by September 2026.
Akshat Vaidya, Co-founder and Managing Partner, will lead the fund alongside Arthur Hayes and Adam Schlegel. The team intends to identify undervalued businesses, improve operations, and exit within four to five years. Maelstrom Equity Fund plans to serve institutional participants, including family offices, pension plans, and digital asset funds.
Focus on Off-Chain Opportunities
Maelstrom Equity Fund will focus on acquiring profitable “off-chain” companies that generate consistent cash flows. These include trading platforms and blockchain data providers with scalable business models and stable revenue streams. By avoiding token-driven projects, the fund aims to target businesses with more predictable valuations.
Each transaction will be structured as an independent special-purpose vehicle, with Maelstrom acting as the lead investor. This approach enables operational flexibility and stronger governance across portfolio companies. It provides transparency for co-participants seeking exposure to the sector without managing direct assets.
The fund’s strategy emphasizes operational efficiency and sustainable profitability rather than speculative growth. Maelstrom Equity Fund will aim to enhance productivity, introduce experienced management, and strengthen long-term performance. This model reflects a private equity approach designed for measurable value creation in the digital asset ecosystem.
Crypto M&A Market Rebounds
The digital asset industry is witnessing renewed dealmaking momentum after a volatile few years. Major transactions like Coinbase’s $2.9 billion acquisition of Deribit and Ripple’s $1.25 billion purchase of Hidden Road signal renewed confidence. Similarly, Ripple’s recent $1 billion deal for GTreasury highlights increasing activity across blockchain infrastructure.
Maelstrom Equity Fund enters the market as merger and acquisition volumes hit a record $10 billion in Q3 2025. Despite slower fundraising across traditional private markets, crypto-related private equity continues to attract significant commitments. The fund expects strong participation from institutions seeking diversified exposure to blockchain operations.
Arthur Hayes’ return to active dealmaking underscores his enduring influence in digital finance. After launching Maelstrom in 2023, he has positioned it as a hybrid between venture capital and private equity. With the Maelstrom Equity Fund, the firm seeks to capture the sector’s next growth phase through disciplined execution and strategic expansion.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
