One of Due south Korea's leading blockchain evangelists is embarking on another huge blockchain fundraise following the success of his start.

Simon Seojoon Kim is planning to raise $173 1000000 for a 2nd blockchain fund following the success of the initial one, which netted $120 million from investors in December 2022. Specifics regarding the new fund and its potential investors are thin on the ground, however.

Kim, dubbed "the Jedi Principal of cryptocurrency" past Sean Park, a senior partner at Hong Kong-based Boston Consulting Grouping, co-founded the blockchain and crypto venture capital firm Hashed in 2022. The firm invests in crypto startups to enable them to grow through staff expansion, partnerships and marketing.

It has attracted big-name financiers such as Naver, South korea'due south third-largest visitor by market value, which invested $12 1000000 in the first Hashed blockchain fund.

The Seoul-based visitor serves every bit a gateway to Asian markets for investors in the Westward. It has invested in a number of notable companies and blockchain projects such as Klaytn, the public blockchain of S Korean mobile giant Kakao. Hashed investments commonly range from around $1 meg to $10 million per visitor.

The portfolio is extensive and also includes Dfinity, the creator of the Internet Computer, Ethereum side-chain platform Skale, Korean blockchain network Icon, and several decentralized finance projects, such as lending platform MakerDAO, Synthetix, Kyber Network, decentralized substitution dYdX and stablecoin platform Terra.

Kim made his fortunes past being an early investor in Ethereum just after the network launched in 2022. Regarding industry investment, he stated, "Our investors desire to maximize their profit, but they too want to larn about the market through us," according to Bloomberg.

He added that the blockchain engineering marketplace is still nascent, which is a huge upside for investors.

Related: What bear market? Investors throw record cash backside blockchain firms in 2022

In that location has been a record corporeality of venture capital funds investing in crypto and blockchain this twelvemonth. The kickoff one-half of 2022 saw more double the corporeality invested than all previous years combined.

Around $17 billion of venture capital cash was channeled into blockchain projects betwixt Jan and June, and Hashed is looking to tap into more of it during the 2d half of the yr.