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JunHe Advises on an Equity Investment in Hashkey Group


Hashkey Group (“Hashkey”) recently completed a Series A financing round of nearly USD 100 million at a pre-money valuation of more than USD 1.2 billion. JunHe advised one of the major investors on its investment in Hashkey, and assisted the client with the review, revision and negotiation of the relevant transaction documents, as well as the closing preparation and implementation.

HashKey is Asia’s end-to-end digital asset management and finance house with an outstanding reputation in the industry. Headquartered in Hong Kong, the group offers new investment opportunities and solutions to large institutions, family offices, funds, and professional and accredited investors across the digital asset and blockchain ecosystem. HashKey Exchange is one of two licensed virtual asset trading platforms in Hong Kong and has been granted licenses by the SFC for Type 1 regulated activity (dealing in securities) and Type 7 regulated activity (providing automated trading services).

This was a benchmark equity investment transaction in the virtual asset field in Asia this year. The transaction documents and negotiations were relatively complex, involving not only the difficult points in equity investment negotiations, but also a compliance analysis related to virtual assets in Hong Kong. As the legal counsel to one of the major investors, JunHe’s team effectively advanced the implementation of the transaction and won high recognition and trust from the client for the efficient and rigorous legal services it delivered.

The JunHe team was led by partners ZHOU, Hui (Nelson) and QIAO, Zheyuan (Jacqueline). Partners ZHOU, Hui (Nelson), QIAO, Zheyuan (Jacqueline) and ZHOU, Jingbo were responsible for the specific work.

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.
As the first carbon neutrality fund sponsored by a law firm in China, the BAF Carbon Neutrality Special Fund was jointly established by JunHe and the Beijing Afforestation Foundation (BAF) to promote carbon neutral initiatives, and encourage social collaboration based on the public fundraising platform to mobilize engagement in public welfare campaigns.