The Green Light for a New Blockchain Fund
Simon Seojoon Kim, the man who seems to effortlessly dance on the blockchain, is at it again! After successfully bringing in an impressive $120 million for his first fund back in December 2020, Kim is now gearing up to raise a whopping $173 million for his second blockchain fund. While the details about this new venture are as elusive as cryptocurrency price predictions, excitement in the blockchain community is palpable.
Meet the Jedi Master of Cryptocurrency
If you haven’t heard of Simon Kim yet, prepare yourself. Dubbed “the Jedi Master of cryptocurrency” by Sean Park, a senior partner at the Boston Consulting Group, Kim has not only co-founded Hashed, a venture capital firm dedicated to blockchain and crypto, but he’s also built significant influence in the crypto space since its inception in 2018.
Investing in Blockchain Tomorrow
Hashed is all about empowering crypto startups to thrive through strategic investments, partnerships, and marketing efforts. Their ambition is to open doors for innovative companies, equipping them to seize the ever-evolving blockchain landscape. Past investments have included notable powers like Dfinity and the Korean blockchain network Icon.
- Klaytn – Kakao’s public blockchain
- Dfinity – Creator of the Internet Computer
- Ethereum side-chain platform Skale
- MakerDAO – A lending platform in DeFi
Backing from Major Players
One of the most compelling aspects of Kim’s journey is the impressive lineup of financiers he’s attracted. Tech giant Naver, South Korea’s third-largest company by market value, laid down $12 million in Hashed’s first blockchain fund, proving that even the big leagues are taking notice.
The Sweet Spot of Early Investment
Kim isn’t just riding the wave; he’s the one controlling the surfboard. His fortune began with an early investment in Ethereum, right after the network launched back in 2015. This foresight has paid off as blockchain technology becomes increasingly mainstream. He acknowledges, “Our investors want to maximize their profit, but they also want to learn about the market through us.”
A Flourishing Landscape for Blockchain Investments
2021 has been a remarkable year for venture capital, especially in the blockchain sector. In just the first half of the year, a record-breaking $17 billion was poured into blockchain projects—an amount that has successfully doubled previous total investments. As Hashed eyes potential investors for its upcoming fund, it plans to tap into this remarkable surge of capital, paving the way for a potentially monumental second fund!
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