Michael ZhaoAPAC / WEB3 / EARLY STAGE
HONG KONG · INVESTMENT MANAGER

Find early Web3 products that hold up under technical, market, and structural scrutiny.

I look at blockchain infrastructure, compliant financial applications, and developer tools across APAC. The work moves from product signals through technical and commercial diligence to token, equity, and market-entry choices.

RADAR / 03

Current radar

Three entry points, one connected verification path.

BUILD

Infrastructure

Developer experience, reliability, permission boundaries, and operating cost

ACCESS

Compliant applications

Institutional decision chains, regulatory perimeters, and integration conditions

TOOLS

Developer tools

Time to first value, retention paths, and ecosystem connections

DILIGENCE SYSTEM

Diligence map

Move from signal quality to an executable structure, leaving evidence at each checkpoint.

01 / PRODUCT

Product

Who returns, and which workflow resists substitution?

02 / TECH

Technology

Where is the claim verified, and how are permissions distributed?

03 / MARKET

Market

Who owns the decision, and which constraint blocks adoption?

04 / STRUCTURE

Structure

Do value flow, token, equity, and governance align?

05 NOTES / BILINGUAL

Investment field notes

Common diligence questions translated into observable signals, interview prompts, and unresolved items.

All field notes ↗
WORKFLOW / 04

Operating method

FRAME

Define the decision

Start with the investment question so the metric does not set the agenda.

TRACE

Follow the evidence

Cross-check product, code, users, and structure documents.

TEST

Preserve dissent

Write down the observation that would reverse the current view.

SUPPORT

Connect the next stage

Bring market entry and follow-on financing into early planning.

PROFILE

Profile

Hong Kong

Current role

Investment Manager

HashKey Capital · Full-time

  • Invest at an early stage in APAC blockchain infrastructure, compliant financial applications, and developer tools
  • Conduct technical and commercial due diligence
  • Evaluate token and equity structures
  • Support portfolio companies with market entry and follow-on fundraising
Education

Shanghai Jiao Tong University

Master of Finance · Finance
2017–2020

CONTACT / HK

Contact

Open to exchanges on APAC Web3, technical diligence, and market-entry constraints.

[email protected]LinkedIn