What To Know About Hivemind’s New $1.5B Crypto Venture

Having served as Citi’s global co-head of the group’s structured products trading division for nearly 15 years, Matt Zhang knows a thing or two about ambitious ventures. Considering his recent announcement about his new crypto investment firm Hivemind, it’s clear that Zhang isn’t shy about putting that expertise into practice by working to institutionalize the crypto investment process—to the tune of a $1.5 billion multi-strategy venture fund.

Characterizing blockchain as a “paradigm shift,” Zhang announced that Hivemind will be partnering with layer-1 blockchain Algorand for the purposes of ecosystem infrastructure. The partnership is seen as a savvy move for Hivemind as well as another notable achievement for Algorand, which has seen its scalable blockchain grow immensely in popularity over the last few years.

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Many of the key features of Hivemind’s new fund will be familiar to anyone caught up in the current wave of enthusiasm over cryptocurrency investment. Others, like its innovative play-to-earn strategy in the gaming space, are recognized as potential game-changers for crypto. Coupled with expected aggressive capital investments in technologies like open internet, crypto infrastructure, and virtual world tech, it seems that Hivemind is doing all it can to shift the crypto paradigm a bit further.

“Our mission is to provide start-to-finish capital and infrastructure solutions to visionary entrepreneurs and category-defining crypto projects,” Zhang said in a characteristically bold mission statement.