Hashed, the South Korea-based blockchain agency, has raised a nine-figure funding fund.
In keeping with the agency, its new entity, Hashed Ventures, Inc., has raised $120 million for a fund that can be centered on the brand new period of distributed networks.
“We imagine we can be residing in a society the place individuals can be working for various networks (protocols) fairly than for particular firms,” Hashed CEO Simon Kim informed CoinDesk via a spokesman. “So it’s our mission to seek out the very best networks that facilitate individuals’s work and life.”
The corporate declined to reveal its buyers, citing authorized necessities, however indicated that the backing got here primarily from Korea’s bigger data know-how corporations and different conglomerates.
In keeping with its web site, Hashed has beforehand invested within the funds startup Chai, derivatives platform Vega, Ethereum-based investing startup Set and plenty of others.
In August, Hashed introduced a partnership with KB Kookmin Financial institution, South Korea’s largest, to construct a “holistic platform to handle digital property for particular person and company shoppers,” based on a press assertion.