Arthur Hayes Seeks $250 Million to Acquire Crypto Firms

* Maelstrom to invest in medium-sized crypto firms with a focus on strong infrastructure and cash flow. * Fund targets $250 million, with a first-round close expected by March 2026. Arthur Hayes’ family office, Maelstrom, announced plans to raise $250 million for a new private equity fund targeting medium-sized crypto firms. The fund, named Maelstrom Equity Fund I, aims to invest in companies with robust business models, consistent cash flow, and fee-generating platforms. By concentrating on tokenless and "off-chain" projects, the fund mitigates risks associated with speculative valuations. On October 17, 2025, Bloomberg reported on the fund's investment strategy. Maelstrom Equity Fund I will deploy $40 million to $75 million per acquisition and plans to purchase four to six companies within the crypto space, focusing on trading infrastructure providers and analytics platforms. Maelstrom will structure each acquisition through a special-purpose vehicle and act as the anchor investor to execute deals effectively. Maelstrom's co-founder Akshat Vaidya will jointly manage the fund with Arthur Hayes and newly appointed partner Adam Schlegel. As a U.S.-registered fund, Maelstrom Equity Fund I aims to attract a diverse investor base, including crypto-native investors, pension funds, and other family offices. Maelstrom anticipates an initial funding close by March 31, 2026, and expects to secure the $250 million target by September 2026. The fund's focus on equity-based investments underscores a long-term strategy for navigating the shifting cryptocurrency landscape. This approach represents a pivot following the FTX collapse and a subsequent slowdown in external funding for the crypto industry, as the firm now supports established, revenue-generating firms rather than speculative ventures.