Hashed Launches $200 Million Blockchain-Related Venture Fund

Hashed, a blockchain funding fund from South Korea, raised $200 million in funds to capitalize on its progress within the Web3 sphere. The announcement of Hashed Enterprise Fund II comes only one yr after the launch of Hashed Enterprise Fund I that noticed $120 million in funds raised.

Main firms from the IT trade in South Korea joined the enterprise, which additionally accompanied the promotion of Sean Hong and Baek Kim, two long-time members of Hashed, as Companions.

The aim of Hashed is to maintain specializing in Web3 improvement on a number of fronts akin to nonfungible tokens (NFTs), DeFi, GameFi, amongst others.

Hashed’s Portfolio

Up to now, Hashed is thought for having remodeled 30 focused investments for the reason that launch of its enterprise arm. A few of them embrace dYdX, a serious decentralized trade. Additionally, Republic, NFTBank, and Chai are among the many ventures the place Hashed co-invested collectively with SoftBank Ventures.

“By means of the success tales of DeFi and GameFi, the second fund was launched at an vital time when the protocol financial system started to show its competitiveness. Along with the brand new fund, we’ll develop into Asia’s greatest blockchain-specialized VC, serving as a bridge between the Asian and western communities,” Simon Kim, CEO and Managing Associate at Hashed, advised FXEmpire.

Hashed was additionally an early investor in metaverse-focused initiatives akin to The Sandbox and Axie Infinity.

In Asia, the metaverse has attracted the eye of many individuals and trade gamers, together with the governments like China.

Not too long ago, Gou Wenjun, the anti-money laundering head of the Folks’s Financial institution of China (PBoC), commented that the apex financial institution would regulate the nonfungible token (NFT) and metaverse sectors.

He argued that each industries might be used for cash laundering functions along with cryptocurrencies to their diploma of “interoperability.”

The phrases additionally align with the Chinese language authorities’s present stance towards the crypto and the blockchain sphere, with the newest crackdown launched on the finish of September.