Hivemind Raises $17M from M&G as Asset Managers Test Tokenization
August 25, 2026 – 1:00 pm
Hivemind Digital Group has secured a strategic funding round of $17 million led by M&G Investments, the asset management arm of the British savings and investment group. This investment positions M&G on Hivemind’s board and showcases interest in the intersection of conventional fund management and tokenization of real-world assets.
Alex Seddon, M&G Investments’ head of impact and private equity, joins the board as part of this deal. The round attracted a diverse group of participants, including Asian financial institutions and crypto infrastructure companies like:
- CPIC Investment Management (HK)
- ZA Bank
- FalconX
- Sonic Boom Ventures
Additionally, prominent former executives from firms such as Man Group, Apollo Global Management, Coinbase, Citi, First Citizens Bank, and GoldenTree Asset Management are also involved.
Hivemind, founded in 2021 by Matt Zhang (former head of trading at Citi), allocates institutional capital across digital asset strategies and builds blockchain infrastructure for asset movement. Zhang describes this round as a pivot towards expanding Hivemind’s role beyond digital assets into broader financial applications.
"Hivemind was founded on the conviction that digital assets deserved recognition as a distinct and institutional-grade asset class," Zhang stated, highlighting the company’s vision to integrate blockchain technology into financial infrastructure.
Seddon expressed M&G’s interest in tokenization’s potential for practical applications within financial markets. While this investment represents a research position rather than a strategic commitment, it grants M&G visibility into emerging market opportunities.
CPIC IMHK, the Hong Kong asset management arm of a Chinese insurer, was more explicit about their motivation:
"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," said CG Zhou, chief executive of CPIC IMHK.
Hivemind plans to use the funding for capital deployment into tokenized opportunities across asset classes, expanding international partnerships, and building infrastructure for a new generation of asset management.