Maelstrom, the family office led by BitMEX co-founder Arthur Hayes, is reportedly raising $250 million for its first private equity fund aimed at acquiring distressed and undervalued companies within the crypto infrastructure and services sector, according to a Bloomberg report published on October 17, 2025.
A $250 million fund to capitalize on crypto market dislocation
Named Maelstrom Equity Fund I, the vehicle will pursue equity stakes in trading, data analytics, and infrastructure platforms, executing each deal through special purpose vehicles (SPVs).
The firm plans to allocate between $40 million and $75 million per transaction, targeting up to six acquisitions across the crypto ecosystem.
Akshat Vaidya, Maelstrom’s co-founder and managing partner, emphasized that the fund is focused on acquiring income-generating platforms with solid fundamentals and transparent valuations.
Unlike prior strategies that leaned heavily on speculative token investments, Maelstrom’s new approach centers on off-chain equity opportunities—companies operating within the crypto space but grounded in more traditional business models and valuation frameworks.
Fund aims for $1 billion target by late 2026
Hayes, along with Vaidya and newly joined partner Adam Schlegel, plans to register the fund in the United States. Fundraising efforts will primarily target institutional investors, pension funds, and family offices, according to a company statement.
Vaidya noted that the initiative is designed for investors who want exposure to the crypto industry without requiring deep technical knowledge of blockchain mechanics or digital asset trading.
The first close of Maelstrom Equity Fund I is expected in March 2026, with a goal of scaling up to $1 billion in assets under management by September 2026.
