Hashed is one of the latest crypto investment firms that has spread its wings to Abu Dhabi by tying up with the region’s global tech incubator Hub71.
The firm is looking to open up an office in the region and parallelly scout fundraising opportunities. Established in 2017, the firm already has its presence in regions like San Francisco and Singapore. At the moment, it looks after around $700 million in assets.
Hashed is also looking to introduce more fin-tech and crypto Korean startups to the UAE. In fact, the firm is already assisting some South Korean companies valued at more than $1 billion to set up shop in the Abu Dhabi market.
Elaborating on the same, Simon Seo-Joon Kim, the Chief Executive Officer and Managing Partner of Hashed said,
“For the Korean startup, the mission to expand their business abroad is quite mandatory because the biggest problem of Korea is our population is decreasing.”
He added,
“But I believe that talent-wise, the Korean entrepreneur is one of the best in the world, so we have to expand our business abroad.”
It is getting challenging for local firms to expand in South Korea. Contrarily, several crypto-based companies have been flocking to the UAE, owing to the regulatory clarity and pro-crypto guidance for digital asset businesses.
Prominent players like Binance, Coinbase, Laser Digital, and OKX have already established a base in this region.
Most companies in Hashed portfolio are non-domestic companies. They include Axie Infinity, Yuga Labs, and dYdX.
Ahmad Ali Alwan, the Chief Executive Officer of Hub71, is eagerly looking forward to get more Korean startups - especially the ones immersed into Web3, blockchain, and digital asset tech - to Abu Dhabi.
