Arthur Hayes’ family office, Maelstrom, is launching a new private equity vehicle with plans to raise more than $250 million to acquire mid-sized companies in the crypto sector.
According to co-founder and Managing Partner Akshat Vaidya, the fund—Maelstrom Equity Fund I—will focus on firms providing blockchain infrastructure and data analytics, investing between $40 million and $75 million annually. The goal, he said, is to offer founders “cash-heavy, clean exits at reasonable valuations,” while strengthening the bridge between traditional finance and the crypto industry.
Vaidya noted that institutional investors such as pension funds and family offices are increasingly seeking large-scale exposure to crypto, but that many existing venture funds have failed to deliver strong, risk-adjusted returns.
The move comes amid a resurgence in crypto M&A activity following the market’s recovery from the FTX collapse. Recent deals include Stripe’s $1.1 billion acquisition of Bridge, Ripple’s $1.25 billion purchase of Hidden Road, and Coinbase’s $2.9 billion agreement with Deribit. Ripple also announced plans this week to buy treasury platform GTreasury for $1 billion.
Each Maelstrom deal will be structured through a special purpose vehicle (SPV) targeting profitable, cash-flow-generating businesses. Joining Hayes and Vaidya on the investment team is Adam Schlegel, a former fund manager at Haveli Investments.
Founded in 2023 by Hayes—the BitMEX co-founder—Maelstrom combines elements of venture capital and private equity, maintaining a long-term, diversified portfolio that includes early-stage equity, token investments, and public market positions. The firm also runs a bitcoin grant programme supporting the development of the original cryptocurrency.
