South Korea’s crypto assets fund and accelerator Hashed Ventures has raised $200 million for its Fund II to aid the global blockchain ecosystem.
This development comes after the launch of Hashed Venture Fund I that saw $120 million in funds committed last December.
Investors participating in this round are the largest Korean IT companies, multi-discipline conglomerates, and globally renowned investment firms, according to the firm.
With the new fund, the firm focuses on solving problems that improve end-user experience, designing more engaging metaverse games, and making Web3 services safer for mass adoption.
Founded in 2017, Hashed manages the largest crypto assets fund in South Korea with operations based in San Francisco and Seoul.
The firm has been an active investor in the Web 3 gaming space dating back to 2016, with early investment in Axie Infinity and The Sandbox.
Since its inception, the firm has backed over 40 founders across the globe and is expanding its footprint in key markets such as Singapore and India.