The South Korean crypto venture capital firm Hashed will launch a second blockchain fund, estimated at $170 million.
South Korean crypto investment firm Hashed will soon launch its second blockchain fund, according to a Bloomberg report. Simon Seojoon Kim, an early retail investor in Ethereum, launched Hashed’s first blockchain fund in December 2020. The second one should arrive by the end of the month.
Kim is well known in South Korean blockchain circles and has become something of the region’s best crypto advocates. As someone who made his fortune solely off of cryptocurrencies, few are in a better position to tout the benefits of the asset class. The company’s first blockchain fund raised $120 million, with backers including South Korea’s Naver and Kakao.
Hashed was launched in 2018. As an incubator, it has helped companies grow into full-fledged businesses from early challenges. Speaking of the general investment philosophy, Kim said during an interview in Seoul,
“The most successful investment is when you spot a fundamentally strong asset that’s either not getting much attention or being viewed negatively.”
He also believes that the market is only in its infancy, with much more room to grow. Consequently, Kim warned retail investors about unpredictability and trying to get rich quickly.
Kim said that investors are keen on learning about the market, which is in line with trends around the world. Investment in the blockchain space has gone up in 2021 — and by a considerable amount.
Blockchain and crypto investment going up
According to a recent report by professional services firm KPMG, investment in the blockchain and crypto space has already doubled that of 2020. The total investment in the sector was $3.7 billion, compared to $2.2 billion in 2020. The report highlights some significant fund flows to the market and overall gives the impression that the perception of the asset class is changing.
The Pulse of Fintech report only covers the first half of 2021, with the analysts saying that ‘diversity’ was the main theme. So far, there have been nearly 2,500 deals in the crypto space. With the way the market is going, that figure could see quite a jump in the months to come.
Regulation will also play a considerable part in the capital flowing in the space. On the whole, regulation seems to be taking a middle-ground approach. So investment shouldn’t be hampered by it very much.
The post South Korean Crypto Firm Hashed to Launch $170M Blockchain Fund this Month appeared first on BeInCrypto.
Original Source: Be In Crypto South Korean Crypto Firm Hashed to Launch 0M Blockchain Fund this Month