Hashed, one of South Korea’s largest crypto asset fund managers, has raised $120 million to fund new blockchain ventures in the so-called “protocol economy.”
The funds were raised via Hashed Ventures Inc., a new entity that will oversee the deployment of the nine-figure investment. The company has yet to disclose its backers, though a spokesman indicated that some of South Korea’s largest IT companies are involved.
“Hashed plans to invest heavily in domestic and overseas startups that want to realize the’protocol economy,’ which has recently emerged as a hot topic, as well as technology companies in the blockchain field through the formation of this first fund.”
Based in Seoul and Silicon Valley, Hashed markets itself as a team of blockchain experts pushing the needle on decentralization. The company’s investment portfolio includes dozens of crypto companies, including notable blockchain projects like Ethereum, EOS, Ontology, ICON and Kyber Network.