South Korean cryptocurrency “Master Jedi” plans to launch a second VC blockchain fund

After his first success, one of Korea’s leading blockchain evangelists is embarking on another large-scale blockchain fundraising event.

Simon Ruijun Kim Plan to raise US$173 million for the second blockchain fund after the success of the first blockchain fund Net profit of US$120 million from investors in December 2020However, the specific details about the new fund and its potential investors are unclear.

Kim is called the “cryptocurrency Jedi Master” by Sean Park, a senior partner of the Hong Kong-based Boston Consulting Group, and co-founded Hashed, a blockchain and crypto venture capital firm, in 2018. The company invests in crypto startups, enabling them to grow through employee expansion, partnerships, and marketing.

It attracted big-name financiers, such as Naver, the third largest company in South Korea by market capitalization, which invested US$12 million in the first Hashed blockchain fund.

This Seoul-based company is the gateway for Western investors to enter the Asian market.It has invested in many famous companies and blockchain projects, such as Klaytn, public blockchain South Korean mobile giant Kakao. The hash investment of each company is usually between US$1 million and US$10 million.

this folder A wide range, including the creator of the Internet computer Dfinity, the Ethereum sidechain platform SKALE, the Korean blockchain network ICON, and the lending platform MakerDAO, Synthetix, Kyber Network, decentralized exchange dYdX and stablecoin platform Terra, etc. DeFi project.

Kim became an early investor in Ethereum just after the launch of the Ethereum network in 2015 and made a fortune.Regarding industry investment, he said, “Our investors want their profits to be maximized, but they also want to understand the market through us,” according to reports Bloomberg.

He added that the blockchain technology market is still in its infancy, which is a huge advantage for investors.

related: What bear market?Investors invest a record amount of cash in blockchain companies in 2021

The number of venture capital funds investing in encryption and blockchain this year hit a record high. The investment in the first half of 2021 is more than twice the sum of previous years.

About $17 billion in venture capital cash Introduced into blockchain projects from January to June, Hashed hopes to use more in the second half of this year.

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