Hashed – top-tier crypto asset management firm in South Korea – has reportedly secured $120 million, dedicated to financially support new blockchain ventures in the so-called “protocol economy.”

Specifically, the fundraising was reportedly carried out through Hashed Ventures Inc. – an establishment in charge of supervising the deployment of the nine-figure investment.

Details of its backers have reportedly not been revealed yet, but a representative reportedly claimed that numerous key players across the local IT industry are involved. 

“Hashed plans to invest heavily in domestic and overseas startups that want to realize the’protocol economy,’ which has recently emerged as a hot topic, as well as technology companies in the blockchain field through the formation of this first fund.” Hashed reportedly remarked. 

The fund will reportedly direct the investment in local and international startups, employing blockchain to assist with disrupting the “protocol economy” – a broad umbrella term referred to emerging platforms and applications.

Hashed – headquartered in both Seoul and Silicon Valley – reportedly looks to be recognized as a team of blockchain professionals taking decentralization to the next level. 

The company’s investment portfolio reportedly includes a wide range of crypto firms, including notable blockchain initiatives, nominally Ethereum, EOS, Ontology, ICON and Kyber Network.

The company’s investments are reportedly distributed across blockchain platforms, financial infrastructure, applications, pick-and-shovel plays and publishing at the moment.