SMBC Nikko Securities Invests in Hashed Ventures' Fund 3
SMBC Nikko Securities will make a strategic investment in Fund 3 established by Hashed Venture, a global blockchain-focused venture capital firm.
In March 2020, SMBC Nikko Securities established the "Nikko Open Innovation Lab (NOIL)" as a new business development division, and has been exploring new business models that leverage financial institution expertise and next-generation technologies such as blockchain. In particular, the team "Funder Storm," which leads Web3 initiatives within NOIL, has established a joint venture company "Proof of Japan Co., Ltd." with the purpose of promoting Japan's cultural value that cannot be fully captured by capital markets. They are also actively engaged in education and regulatory development aimed at improving the Web3 environment in Japan.
Through this investment, SMBC Nikko Securities expects to further strengthen networks and collaborations with Hashed and promising startups and projects in their portfolio. This investment is positioned as an extension of NOIL and Funder Storm's initiatives, while also serving as SMBC Nikko Securities' strategic commitment through capital participation with risk-taking in the Web3 domain.
Hashed is a global blockchain-focused venture capital firm based in Seoul, with additional offices in San Francisco, Singapore, Bangladesh, and Abu Dhabi. They have invested in numerous innovative decentralized projects including Ethena, Worldcoin, Aptos, and Story. Hashed goes beyond mere investment, actively supporting portfolio companies in building global networks and expanding their businesses. In 2020 and 2021, they established funds totaling $120 million and $200 million USD respectively.
SMBC Nikko Securities has focused on the Web3 domain as next-generation infrastructure capable of transforming existing financial and economic system frameworks, deepening its understanding and involvement in Web3. Going forward, through this investment, SMBC Nikko Securities will enhance its presence in the Web3 domain while incorporating new perspectives into its existing businesses, leveraging the financial service expertise and achievements the firm has cultivated, in addition to creating new businesses.
