Hashed leads new digital asset private credit fund, targeting $300 million.

September 23: Crypto venture capital firm Hashed has led a new private credit fund for digital assets, which targets a size of $300 million.

The fund was founded by Abu Dhabi-based investor and Further Ventures co-founder Mohamed Hamdy and is managed by Thoro Capital Management, where Hamdy also serves as managing partner. Thoro will provide USD-denominated loans settled via stablecoins directly to digital asset institutions, while Hashed will act as the fund's primary capital provider.

Hashed stated that the credit fund aims to address the "critical financing bottleneck" in the institutional-grade digital asset sector. Traditional banks are constrained by regulatory capital requirements, while existing crypto lending institutions typically require asset collateral, forcing even profitable and audited market infrastructure companies to rely on costly short-term secured borrowing rather than obtaining credit financing based on corporate fundamentals. The fund seeks to address the critical financing bottleneck facing the institutional-grade digital asset sector by adopting a "covenant-based" underwriting approach.