According to the firm, its new entity, Hashed Ventures, Inc., has raised $120 million for a fund that will be focused on the new era of distributed networks.
â€œWe believe we will be living in a society where people will be working for different networks (protocols) rather than for specific companies,â€ Hashed CEO Simon Kim told CoinDesk through a spokesman. â€œSo it is our mission to find the best networks that facilitate peopleâ€™s work and life.â€
The company declined to disclose its investors, citing legal requirements, but indicated that the backing came primarily from Koreaâ€™s larger information technology firms and other conglomerates.
According to its website, Hashed has previously invested in the payments startup Chai, derivatives platform Vega, Ethereum-based investing startup Set and many others.Â
In August, Hashed announced a partnership with KB Kookmin Bank, South Koreaâ€™s largest, to build a â€œholistic platform to manage digital assets for individual and corporate clients,â€ according to a press statement.
Cryptocurrency trading and applications have been popular throughout Asia, with South Korea seen as a major hub, but its government has sent mixed messages on the asset class.Â