Hashed, one of the largest blockchain-focused venture capital firms in South Korea, has announced the launch of a new $200 million fund dedicated to Web 3.0 investments. The fund, named Hashed Venture Fund II, will focus on incubating early-stage startups in the metaverse, decentralized finance, and Web 3.0 infrastructure sectors.
Key Investment Areas
In an official statement, the firm outlined three strategic pillars for the fund: the metaverse, open finance, and Web 3.0 infrastructure. Hashed partner Baek Kim emphasized that the team will prioritize projects that improve end-user experiences, design more engaging metaverse games, and make Web 3 services safer for mass adoption.
Hashed has a strong track record in the gaming and metaverse space, having previously invested in popular Play-to-Earn titles such as The Sandbox and Axie Infinity. The new fund will also back sibling gaming studio UNOPND, which is developing its own lineup of Play-to-Earn experiences.
Global Expansion and Leadership Changes
To support the enlarged fund, Hashed is scaling its geographic footprint. The firm already operates offices in Seoul and San Francisco, and is now expanding into Singapore to better serve the Asian and global markets. In a blog post, Kim noted: "We are carefully scaling our impact in key markets. In addition to our Seoul and San Francisco offices, we are expanding our Singapore office."
Additionally, Hashed has reshuffled its executive structure. Two early collaborators, Sean Hong and Baek Kim, have been promoted to General Partners, reflecting the firm's commitment to deepening its investment capabilities. As with its previous $120 million fund raised earlier in 2021, Hashed has chosen not to disclose the limited partners behind the new vehicle.
Rising Momentum in Web 3.0
The launch of Hashed Venture Fund II comes amid surging global interest in Web 3.0, decentralized applications, and the metaverse. As a leading blockchain VC in Asia, Hashed's $200 million commitment signals strong conviction in the long-term potential of these technologies. With fresh capital and an expanded international presence, the firm is well-positioned to back the next generation of decentralized innovators.
This article is based on original reporting by Sergio Goschenko on CryptoComLearn.