240 Billion Won 'Bullet' Loaded Solely by Private Capital... Hashed Forms Second VC Fund
Active Investment in NFT, DeFi, Metaverse, and More
[Asia Economy Reporter Minwoo Lee] Blockchain-focused investment firm Hashed has established its second venture capital (VC) fund worth 240 billion KRW. Based solely on private capital, the fund plans to aggressively invest in the domestic and international blockchain industries.
On the 2nd, Hashed announced the formation of the 'Hashed Venture Investment Fund No. 2.' This follows the creation of its first VC fund worth 120 billion KRW last November, marking the establishment of another large-scale fund within a year.
The second fund includes participation from numerous domestic and international large corporations, financial institutions, and content companies. Like the first fund, it was formed entirely with private capital without any contributions from the Korea Fund of Funds. Through this, Hashed plans to actively invest in non-fungible tokens (NFTs), decentralized finance (DeFi), GameFi, and the metaverse (extended virtual worlds). In fact, within just one year of forming the Hashed Venture Investment Fund No. 1, four unicorn portfolio companies (unlisted startups valued at over 1 trillion KRW) have emerged, including the decentralized derivatives exchange 'dYdX,' blockchain game company 'Missical Games,' and NFT platform 'Liquor,' which served as the driving force behind the establishment of the second fund.
Additionally, Hashed appointed Seongwook Hong as Chief Financial Officer (CFO) and Baekkyum Kim, Senior Investment Officer, as new partners. Partner Hong oversees finance, accounting, and legal affairs as Hashed's CFO. Partner Kim leads Hashed's investment activities in the Anglo-American markets based out of the San Francisco office.
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Seojun Kim, CEO of Hashed, expressed his ambition, stating, "With the new fund, we will grow into Asia's top blockchain-focused VC serving as a bridgehead for blockchain communities in Asia and the Anglo-American regions."
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