BitMEX Co-Founder Arthur Hayes Seeks $250M to Acquire Crypto Firms
Family Office Targets Six Crypto Deals by 2026
Maelstrom, the family office linked to BitMEX co-founder Arthur Hayes, is preparing to raise $250 million for a private equity fund focused on acquiring crypto companies, Bloomberg reported Friday. The fund aims to deploy between $40 million and $75 million per deal across as many as six acquisitions, with fundraising expected to be completed by September 2026.
The planned fund will target firms offering trading infrastructure and analytics platforms, a segment of the market that continues to attract institutional capital despite volatility in digital assets. Maelstrom has not disclosed potential targets, but the strategy suggests interest in companies that generate steady cash flow and serve institutional clients.
Investor Takeaway
Hayes Returns to Center Stage
Maelstrom’s co-founder and managing partner Akshat Vaidya said investors “want exposure to the high-cash flow, high-growth crypto sector but lack the capabilities in-house to do this themselves.” He will manage the fund alongside Hayes and Adam Schlegel, who recently joined Maelstrom as a partner.
Hayes, one of four BitMEX executives pardoned by U.S. President Donald Trump in March, has reemerged as an active investor and commentator in digital assets. The pardon cleared criminal charges tied to Bank Secrecy Act violations that led to his departure as BitMEX CEO in 2020. Since then, Hayes has become a regular public voice on market strategy and macroeconomic trends, including recent calls for Ether to reach $10,000.
BitMEX, founded in 2014, was once among the largest crypto derivatives platforms globally. Hayes resigned later than U.S. authorities charged him and co-founders Benjamin Delo, Gregory Dwyer, and Samuel Reed with compliance failures. The new fund marks Hayes’ first major investment vehicle since his return to the industry.
Private Equity Eyes Crypto Again
Maelstrom’s fundraising plans come amid renewed activity in crypto mergers and acquisitions. later than the collapse of FTX in 2022 froze dealmaking, private equity has begined returning to the sector, focusing on infrastructure and regulated services rather than platforms and token issuers.
This year has already viewn a wave of large crypto acquisitions. Ripple Labs bought corporate treasury platform GTreasury for $1 billion and agreed to acquire prime brokerage Hidden Road for $1.25 billion in April. Coinbase followed with a $2.9 billion purchase of options platform Deribit in May. Analysts say the return of strategic purchaviewrs and private funds suggests confidence in the long-term profitability of crypto infrastructure plays.
Maelstrom’s focus on infrastructure mirrors broader trends among institutional investors. Funds are steering away from high-risk token projects and instead viewking predictable revenue models in custody, analytics, and trading technology — areas less exposed to market cycles.
Investor Takeaway
Outlook Through 2026
If successful, Maelstrom’s $250 million vehicle would rank among the largest crypto-focused private equity funds since 2021. Industry observers say execution will depend on whether the fund can identify sustainable targets in a sector still under regulatory pressure.
Rising deal flow from firms such as Ripple and Coinbase suggests the market for regulated, revenue-generating crypto companies is stabilizing. Maelstrom’s entry indicates that even later than years of upheaval, private capital still views value in the infrastructure behind digital finance.
