Hashed, the blockchain-specializing investment company, has formed its second VC fund, ‘Hashed Venture Fund II,’ worth $200 million or 240 billion won. Hashed created this large-scale fund a year after creating its first VC fund worth $ 120 million in November 2020. Hashed announced that it would actively invest in the Web3 ecosystem, such as non-fungible tokens (NFT), decentralized finance (DeFi), GameFi (GameFi), and metaverse through this VC fund.
Hashed CEO Simon Seojoon Kim said, “Through the success stories of DeFi and GameFi, the second fund was launched at an important time when a protocol-based economic organization has begun to prove its overwhelming competitiveness. We will grow into Asia’s best blockchain-specialized VC that serves as a bridgehead for the chain community.” A number of domestic and foreign large corporations, financial institutions, and content companies participated in the ‘Hashed Venture Investment Association No. 2’ fund, and, like the No. 1 fund, it was formed only with pure private capital without investment in a parent fund and plans to invest in the global blockchain industry.
Hashed has investments in blockchain teams such as Terra, Axie, Infinity, and The Sandbox and large Asian IT companies such as Kakao’s Klaytn and Line’s Link. The VC firm has invested and advised on blockchain projects from the beginning and established a joint venture between KB Kookmin Bank and Korea Digital Asset (KODA), a virtual asset trust company.
In addition to the formation of the fund, Hashed appointed Hong Seong-wook, CFO, and Kim Baek-gyeom, senior reviewer of the investment team as new partners. Partner Sung-wook Hong is in charge of financial accounting and legal affairs as CFO of Hashed, and partner Baek-gyeom Kim is leading Hashed’s investment activities in the Anglo-American market based in the San Francisco office.