Hayes’ Maelstrom To Raise $250M For Crypto Acquisitions

Maelstrom, managed by the family office of BitMEX co-founder Arthur Hayes, plans to raise $250 million for a private equity fund that will buy medium-size crypto infrastructure and analytics firms.

The Maelstrom Equity Fund I plans to spend between $40 million and $75 million per deal on as many as six crypto companies, co-founder and managing partner Akshat Vaidya told Bloomberg.

Funding for the planned acquisitions is expected to be completed by September 2026. 

Maelstrom Will Focus On Trading Infrastructure And Analytics Platforms

Vaidya said on X that the fund’s goal is to “provide founders cash-heavy, clean exits at reasonable valuations” while also boosting links between crypto and traditional finance. 

The fund will be the first private equity (PE) fund focused entirely on acquiring profitable, off-chain crypto infrastructure companies, Vaidya said. 

Maelstrom Equity Fund I, L.P.* is out of the bag

Let’s dive in –

* @CryptoHayes‘ debut external fund, the first control-buyout PE fund ever to specialize solely on the crypto industry. Targets = profitable, off-chain ‘picks and shovels’.

Why we are building this:
– Problem 1:… pic.twitter.com/K5E2wWbUqF

— Akshat_Maelstrom (@akshat_hk) October 17, 2025

The Maelstrom co-founder identified three core problems that make it difficult for acquisitions in the crypto space. 

In addition to founders of cash-flowing businesses having limited liquidity options, he noted that it is difficult for traditional finance investors to gain exposure to quality businesses. Institutional investors also have poor fund options, and can only invest in the crypto space through venture capital (VC) funds that deliver weak risk-adjusted returns, Vaidya added. 

Maelstrom will also use its team’s combined experience and network to professionalize and grow the companies into acquisition-ready assets. It will then give large investors a way to enter crypto through profitable, cash-flowing businesses rather than volatile tokens.

This, Vaidya argues, will enable scaled exposure to the crypto space with lower levels of risk.

Hayes Becomes More Active In The Crypto Space After Trump Pardon

Hayes, who will help lead the new fund, stepped down as BitMEX CEO in 2020 after US authorities charged him and his associates Benjamin Delo, Gregory Dwyer and Samual Reed with violations of the US Bank Secrecy Act. 

Hayes surrendered to US authorities in 2021, pled guilty in 2022, and was sentenced to two years of probation with six months of home confinement. 

His presence in the crypto space has become more marked since he received a pardon from US President Donald Trump in March.

Following the steep correction in Bitcoin’s price over the past week, Hayes said on X yesterday that it’s “on sale.” 

BTC price (Source: CoinMarketCap)

“If this US regional banking wobble grows to a crisis be ready for a 2023-like bailout,” he said. ”And then go shopping assuming you have spare capital.”

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