Arthur Hayes’ family office, Maelstrom, is looking to raise $250 million for a debut venture capital fund targeting mid-sized crypto companies, according to a Bloomberg report on Friday.
The fund plans to invest $40 million to $75 million per trade and acquire up to six companies focused on trading infrastructure, analytics and related services.
Maelstrom goes after non-token equity trades where valuations are based on cash flows, not speculative token allocations.
“These kinds of companies are much easier to acquire,” said Maelstrom co-founder and managing partner Akshat Vaidya. “You can’t artificially inflate valuations with an unused token.”
The fund, which will be registered in the US, intends to structure acquisitions via special-purpose vehicles, anchor with its capital and bring in co-investors. Vaidya is aiming for an initial close on March 31 next year, with full financing wrapped up in September 2026. Hayes and partner Adam Schlegel will lead the effort, with plans to build a broader management team.
Hayes himself remains a prominent figure in crypto, credited with inventing perpetual swaps and influencing innovations such as Athena’s synthetic dollar.
Maelstrom did not respond to CoinDesk’s request for further comment.
