Maelstrom, the family office associated with BitMEX co-founder Arthur Hayes, is reportedly aiming to gather $250 million for a private equity fund to acquire cryptocurrency companies. According to a report from Bloomberg on Friday, this fund plans to allocate between $40 million and $75 million for each acquisition, targeting up to six firms.

Funding is anticipated to conclude by September 2026, with a particular focus on companies that provide trading infrastructure and analytics platforms.

Maelstrom’s co-founder and managing partner Akshat Vaidya stated that investors involved in the fund are eager to gain exposure to the high-cash flow, high-growth crypto sector, but do not possess the in-house expertise to manage investments directly. Vaidya will lead this initiative alongside Hayes and new partner Adam Schlegel.

Hayes, once one of four BitMEX executives who received a pardon from US President Donald Trump in March, stepped down from his role as CEO in 2020 due to criminal charges related to the US Bank Secrecy Act. Following his pardon, he has become a notable voice in the crypto sector, sharing price forecasts and insights.

Acquisitions Across the Crypto Industry

Maelstrom’s efforts reflect a burgeoning interest from private equity to re-enter the crypto space, which saw a decline in investments after the downfall of the FTX exchange in 2022. Recently, Ripple Labs pursued an acquisition of GTreasury for $1 billion, indicative of their expansion strategy in the crypto payment sector. This acquisition followed their $1.25 billion deal for Hidden Road and Coinbase’s agreement to buy Deribit for $2.9 billion.