Hashed Venture Fund II was launched by Hashed Venture Capital, a Korean VC firm that focuses on investment in Web 3.0-based startups. Although the fund raised $200m for its investments, Hashed did not reveal who it had participated. However, it announced that it would be expanding operations in order to make a greater global impact.
Hashed focuses on Web 3 Investments
Hashed, a leading blockchain-based VC firm in Korea has launched a new fund to focus on Web 3.0 investments. Hashed revealed that the new Hashed Venture Fund II would have $200 million in capital available for incubating startups in Web 3.0, such as play-to earn initiatives or decentralized finance companies.
Hashed plans to use this fund to increase its global reach, connect with creators and expand its influence, as well as establish new connections in countries not yet explored. Hashed’s announcement, written by partner Baek Kim, states:
We’re focusing on expanding our reach in key markets. Our Seoul and San Francisco offices are growing, as well as our Singapore office.
Hashed has also restructured its executive structure and promoted two of its early collaborators, Sean Hong, and Baek, to the role of general partners.
Investment Opportunities in Key Areas
Although the fund’s investors were not disclosed by the company, the guidelines for the investment of this initiative are. Three areas are key: metaverse, open financing, and web 3.0 infrastructure.
The company is familiar with play-to earn initiatives, metaverse-based games like Axie Infinity and The Sandbox. This announcement should not be surprising in this area. What’s more interesting is the focus of the company on building web 3.0 infrastructure that could possibly be used by other protocols. Hashed announced:
This group will work to solve problems and create more compelling metaverse games. We also want web3 services that are safer for mass adoption.
UNOPND (a sibling gaming firm) is working on play-to earn experiences for the company. The second Hashed fund has been opened in less that a year. It was the first to raise $120 million for investments similar to the one before it. The company also declined to reveal the identities of the investors at the time.
What do you think about Hashed’s $200 million web 3.0 investment fund? Please leave a comment in the section below.
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