Hivemind raises $17M as M&G backs its tokenization push
What's the deal? Hivemind Digital GroupDealroom has a profile for this one. Try Dealroom →, parent of Hivemind CapitalDealroom has a profile for this one. Try Dealroom →, has closed a $17 million early-stage round led by M&G InvestmentsDealroom has a profile for this one. Try Dealroom →. Backers include CPIC Investment Management (HK), ZA BankDealroom has a profile for this one. Try Dealroom →, FalconX, and Sonic Boom VenturesDealroom has a profile for this one. Try Dealroom →. The New York- and London-based firm builds tokenization infrastructure for traditional and digital assets.
Why now? Founded in 2021, Hivemind is pushing past digital assets into broader financial infrastructure. Chief executive officer Matt Zhang called the round the start of "our next chapter: taking blockchain technology beyond digital assets and supporting the development of new applications across asset management and financial infrastructure."
What's the endgame? The money funds three priorities: deploying capital into tokenization opportunities across asset classes, expanding institutional partnerships globally, and building infrastructure for a next-generation asset management industry. The tokenized asset market is projected to reach $18.9 trillion by 2033.
Who's backing it? M&GDealroom has a profile for this one. Try Dealroom →'s investment marks the start of the relationship between the two firms, and Alex Seddon, its head of impact and private equity, joins Hivemind's board. Other participants include current and former executives from Man GroupDealroom has a profile for this one. Try Dealroom →, Apollo Global ManagementDealroom has a profile for this one. Try Dealroom →, Coinbase, CitiDealroom has a profile for this one. Try Dealroom →, First Citizens BankDealroom has a profile for this one. Try Dealroom →, and GoldenTree Asset ManagementDealroom has a profile for this one. Try Dealroom →.
Seddon said M&G takes "a selective approach to innovation, focusing on opportunities where new technologies meet institutional standards and robust governance." CG Zhou, chief executive officer of CPIC IMHK, said Hivemind is "one of the few firms with the track record and institutional relationships to capitalize on that opportunity at scale."
The signal: At $17 million, the round sits above the 90th percentile for early-stage deals in its comparison set. The lineup of insurers, banks, and legacy asset managers signals that tokenization is drawing serious institutional money — not just crypto-native capital.
Image credit: Hivemind Capital
