Korean crypto venture capital firm Hashed expands to Abu Dhabi! Reached strategic cooperation with Hub71

1. Hashed Ventures expands to Abu Dhabi

Seoul-based crypto venture capital firm Hashed Ventures is expanding to Abu Dhabi. The company has a strategic partnership with Hub71, Abu Dhabi’s renowned global technology ecosystem, which may also show the Middle Eastern country’s attractiveness to crypto companies.

2. Hashed Ventures sets up office in Abu Dhabi

As an important player in the crypto investment field, Hashed Ventures plans to set up a local office in Abu Dhabi. Chief executive Simon Kim revealed the development in an interview with Bloomberg. In addition to setting up an office, Hashed is exploring fundraising opportunities in the city, aiming to capitalize on Abu Dhabi’s booming technology and investment environment.

3. Facilitate Korean startups’ entry into the UAE market

An important aspect of Hashed’s expansion strategy is facilitating Korean startups’ entry into the United Arab Emirates (UAE) market. The focus will be particularly on areas such as fintech and blockchain. Kim mentioned that Hashed has begun working with several Korean companies valued at more than $1 billion to assist them in entering the Abu Dhabi market.

4. Hub71: A catalyst for startup growth

Abu Dhabi’s tech incubator Hub71 has played a key role in this expansion. Hub71 is known for nurturing startups, providing necessary resources, connecting with potential partners and investors, and ensuring compliance with local regulations. This supportive environment is expected to greatly benefit Korean startups entering the Abu Dhabi market.

5. Korean startups seek global expansion

Simon Kim stressed that Korean startups need to seek growth in foreign markets, one of the reasons being challenges such as population decline. This demand aligns well with the UAE’s aggressive stance on establishing clear crypto regulations, making it an attractive destination for industry giants like Binance and Coinbase.

6. Hashed Investment Record: Biggest Failure TerraUSD

Founded in 2017, Hashed Ventures has a strong portfolio and has invested in some of the most notable projects in the Web3 space. These include Bored Ape Yacht Club creator Yuga Labs, decentralized exchange dYdX, play-to-earn game Axie Infinity, and the tragically failed TerraUSD stablecoin.

7. Continued Global Expansion

Hashed Ventures already has offices in San Francisco and Singapore, and its expansion into Abu Dhabi represents another step in its continued global expansion strategy. The company is reportedly committed to expanding its international presence.

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