Hivemind Digital Group, a technology-focused global asset management platform and the parent company of Hivemind Capital, has announced the completion of a $17 million strategic funding round led by M&G Investments, the UK-headquartered asset management arm of M&G plc. The round also includes participation from CPIC Investment Management (HK), ZA Bank, FalconX, Sonic Boom Ventures and others.

Founded in 2021 by Matt Zhang, a former senior Citi executive, Hivemind has grown into one of the largest investment firms focused on managing assets at the intersection of traditional markets and digital asset innovation. According to the company, the funding round accelerates its evolution in deploying tokenization infrastructure that has the potential to reshape elements of how financial assets – both traditional and digital – are structured, managed and accessed.

Partnership with M&G and Board Appointment

The investment also marks the beginning of the relationship between Hivemind and M&G, in recognition of the role digital assets and tokenization will increasingly play in the financial markets. As part of the investment, Alex Seddon, Head of Impact and Private Equity at M&G Investments, has been appointed to Hivemind’s Board of Directors.

“Hivemind was founded on the conviction that digital assets deserved recognition as a distinct and institutional-grade asset class. The market has evolved significantly in recent years with increasing institutional engagement. This funding round and our partnership with M&G represent 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. M&G leading this round is a huge recognition of the work Hivemind has done to date and a clear signal that the industry is ready for that shift, and we intend to be at the forefront of that change,” said Matt Zhang, Founder and CEO of Hivemind Digital Group.

“At M&G we take a selective approach to innovation, focusing on opportunities where new technologies meet institutional standards and robust governance. Our investment in Hivemind reflects an interest in how tokenization and related infrastructure could support practical, long-term applications across financial markets – we look forward to working together as this area continues to develop,” said Alex Seddon, Head of Impact and Private Equity at M&G Investments.

“As one of Hong Kong’s leading insurance asset managers as well as a digital asset and RWA frontrunner, CPIC IMHK has a unique vantage point on how capital markets are evolving globally. Blockchain and tokenization represent a fundamental shift in that landscape, and Hivemind is one of the few firms with the track record and institutional relationships to capitalize on that opportunity at scale. We are proud to support Matt and the firm as it enters this next stage of growth,” said CG Zhou, CEO of CPIC IMHK.

The Hong Kong representation in the round – CPIC IMHK alongside virtual bank ZA Bank – also sits alongside the city’s regulatory push into digital assets, which has included licensed virtual asset trading platforms and government-issued tokenized green bonds.

Broader Investor Base and Growth Plans

Other investors in the round include board members and ex-senior executives at Man Group Plc, Apollo Global Management, Coinbase, Citi, First Citizens Bank and GoldenTree Asset Management.

The tokenized asset market is projected to reach $18.9 trillion by 2033. Major traditional financial institutions have already moved into the space: BlackRock and Franklin Templeton have each launched tokenized money market funds, and JPMorgan operates blockchain-based payment and deposit infrastructure through its Kinexys platform. With this raise, Hivemind says it is equipped to move decisively: deploying capital into unique opportunities enabled by tokenization across asset classes, expanding its institutional partnerships globally, and building the financial infrastructure enabling the next-generation asset management industry.