Hashed, a South-Korean early-stage Venture Capital fund, recently announced floating a $200 Million fund. It comes after the success of the initial fund, which launched in 2020.
With a focus on early to midsize blockchain firms, the fund aims to spawn the next generation of blockchain companies to rule the web3 space.
Hashed has renewed its commitment to growing institutionalized investments in the web3 industry by creating the Hash Venture Fund II.
Other corporate investors in the fund include South Korean corporate best-of-the-best. Sizeable investment and technology firms with a vested interest in seeing the success of the web3 space participated.
The team at Hashed aims to transform the various components of the web3 space into leading profit centers. These components include decentralized finance (DeFi), Non-Fungible Tokens (NFTs), Gaming Finance (GameFi), identity management, and so on. It also presents a new paradigm where institutional investments go to blockchain early-stage companies with high potential.
The Web3 Investment Space is Maturing
The era of the “shoot first” approach to the web3 investment space is coming to a close. It is already on record that the web3 industry is the fastest-growing asset in recent times. However, this growth has come with high risks and volatility. Institutions such as Hashed have been able to build predictive models that provide insight into the corporate growth stages of web3 startups.
Hashed claims investment decisions are no longer entrepreneurial only. They are a mix of the entrepreneurial, the managerial, the financial, and the statistical.
The addition of these components indicates certain maturity that stabilizes industries. It means that the industry is on the cusp of growing to its full potential with the right kind of approach.
Creating a second fund with the same purpose shows that the first has proven to be a model that works!
Success stories from the Hashed Venture Fund I include dYdX of DeFi fame, Chai, NFT bank, and other leading web3 companies.
South Korea’s Silicon Valley Shows Leadership in the Blockchain Space
South Korean web3 personalities are now taking the bull by the horns and proving themselves to be leaders in the space. Many of these leaders sit on Hashed’s board. Some of them include Sean Hong, who’s the newly promoted CFO, and Baek Kim in global investments. Baek is well-known for his roles with web3 companies and other emerging technologies.
Some of these companies are present in the Hashed portfolio. They include Axie Infinity, ZKSync, Set Labs, and so on. The new promotions come alongside the announcement of the launch.
It also indicates the leadership shown by South Korea’s Silicon Valley in creating the new web3 frontier.
The South Korean Silicon Valley Environment Spawns Institutional Investors
Hashed and other web3 institutional investors are increasingly becoming the new institutional investors within the web3 space. It is in light of the hesitancy of their western counterparts in embracing web3 startups and their innovations.
They have played enormous roles since crypto winter and the comeback of the web3 space two years later. Hashed, for instance, has been consistently pushing the boundaries of what others consider the norm in the web3 investment space.
Hashed has a portfolio that shows a track record of solid growth regardless of the environment.
It is also why Hashed and others like it are the new vanguards in the race towards the adoption of web3 technologies. Simon Kim, the CEO and Managing Partner said.
“As we take our second step in solidifying our position in the global blockchain and technology sector, we are excited that our team’s vision is coming into reality”.
He continued.
“Just a few years ago, people doubted whether we would be able to transition our offline experience to online, but now people no longer question the value of digital assets such as NFTs and related products to be used in the metaverse. This change in our perception indicates that we have been right, and we hope to further exercise our influence in bringing about the kind of future we have imagined that is inclusive and equitable for all.”
It is this vision that has brought Hashed to where it is today. We shall see other strides as the web3 space grows.
For now, it is enough that companies are filling in the gaps and leading.