Crypto VC Hashed launches $300 million digital asset private credit fund

digital asset private credit fund — South Korean venture capital firm Hashed has launched a new fund targeting up to $300 million to provide private credit to institutional players in the digital asset sector.

The Hashed Private Credit Fund aims to address what it calls a critical financing bottleneck for institutions. It will use a ‘covenant-based’ underwriting model, a traditional finance approach adapted for the crypto space, to assess borrower risk and structure loans.

The fund will focus on providing capital to a range of institutional clients, including centralized exchanges, market makers, and mining companies. It seeks to offer an alternative to the often volatile and restrictive financing options currently available in crypto markets.

Hashed, a major investor in projects like The Sandbox and Axie Infinity, stated the fund will be anchored by its own capital alongside commitments from other institutional investors and family offices. The move signals growing institutional interest in structured crypto debt products beyond simple spot trading or venture equity.