HONG KONG — Former BitMex CEO Arthur Hayes and Akshat Vaidya, former Vice President of Corporate Development & Strategic Finance at BitMex, have embarked on a quest to surpass the returns generated by bitcoin and ether.
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Their strategic approach, however, entails a meticulous process that requires ample time for realization.
Hayes, the previous CEO of BitMex crypto exchange, and Vaidya, the former head of corporate development at the same exchange, jointly established Maelstrom Capital.
Vaidya now oversees investments at the organization.
According to the duo, Maelstrom Capital is currently focused on infrastructure firms since it is the most logical course of action at this phase of the economic cycle.
In an interview with CoinDesk, Hayes and Vaidya expounded on their plans and strategy.
“Nothing scales like consumers, but we’re not quite at the phase where there’s enough infrastructure to support that,” Vaidya said.
Maelstrom serves as a family office for Arthur Hayes and manages a pool of his cryptocurrency assets.
Since the funds are solely owned by Hayes, the firm is not dependent on liquidity providers and therefore lacks the motivation to quickly invest capital in order to generate management fees.
The firm operates with a patient approach, which is a notable feature of its modus operandi.
“We want to identify projects that are actually quality,” Hayes said.
“It’s not a game of spray-and-pray because we don’t have outside LPs.”
Infrastructure deals have “strong technological moats that are addressing a large market, and it’s simple to understand business: It’s ‘P’ multiplied by market size,” explains Vaidya.
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