South Korean blockchain venture capital company Hashed announced the launch of Hashed Venture Fund II, a new fund focused on investing in startups based on Web 3.0. The fund raised US$200 million for these investments. Although the company did not disclose the number of participants, it did announce that it would expand its business scale to have a greater global impact.
Hashed focuses on Web 3 investment
Hashed is one of the largest blockchain-based venture capital companies in South Korea. Announce Launched a new fund focused on Web 3.0 investment. Hashed disclosed that its new fund called Hashed Venture Fund II will provide $200 million in funding for incubating startups in the Web 3.0 field, including programs to earn revenue through games and decentralized financial companies.
With this fund, Hashed hopes to expand its influence and reach a global scale, connecting with creators in places that have not been considered before. The Hashed announcement written by partner Baek Kim stated:
We are cautiously expanding our influence in major markets. In addition to our Seoul and San Francisco offices, we are also expanding our Singapore office.
To achieve this goal, Hashed is also reforming its executive structure, promoting its first two collaborators, Sean Hong and Baek Kim, to general partners.
Key investment areas
Although the company did not disclose the investors behind this new fund, it did provide general guidelines that apply to investments in the plan. These funds will be used by companies in three key areas: Metaverse, Open Finance and Web 3.0 infrastructure.
The company has previously invested in game earning programs and Metaverse-based games, such as The Sandbox and Axie Infinity, so the announcement is not surprising in this area. More interestingly, the company focuses on building a Web 3.0 infrastructure that may be used by other protocols. The Hashed announcement emphasized:
We will focus on solving the problem of improving the end user experience, designing more attractive Metaverse games, and making web3 services more secure for mass adoption.
The company is also developing several of its own games to earn experience, designed by brother game company UNOPND.This is the second fund opened by Hashed in less than a year, and the last one improve US$120 million was used for similar investments. At the time, the company also refused to disclose the investors behind the transaction.
What do you think of Hashed’s $200 million Web 3.0 investment fund? Tell us in the comments section below.
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