Gaorong Capital invests $30 million in HashKey Group, a licensed cryptocurrency exchange in Hong Kong

According to Bloomberg, Gaorong Ventures has invested $30 million in Hong Kong's largest licensed cryptocurrency exchange operator, marking a rare case of the venture capital giant venturing into the digital asset space. According to insiders, Gao Rong Capital, an early supporter of Chinese Internet companies such as Meituan and PDD Holdings, invested in HashKey Group when its pre investment valuation exceeded $1 billion; This valuation has hardly changed compared to a year ago when HashKey Group raised $100 million and entered the unicorn market. A spokesperson for HashKey Group stated that Gaorong Capital's $30 million investment was made with a post investment valuation of nearly $1.5 billion.