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09/23/2026

Hashed Anchors $300M Private Credit Fund for Digital Assets

What happened: Korean venture firm Hashed has become the anchor investor in a new $300 million digital asset private credit fund managed by Thoro Capital Management.

Hashed Anchors $300M Private Credit Fund for Digital Assets

What happened: Korean venture firm Hashed has become the anchor investor in a new $300 million digital asset private credit fund managed by Thoro Capital Management. The fund, announced September 22, 2026, will use covenant-based underwriting—focusing on borrower cash flow and financials instead of traditional crypto collateral. Thoro will lend USD (settled via stablecoins) directly to digital asset institutions, with Hashed leveraging its recent Abu Dhabi Global Market financial services license.

Why it matters: This launch targets a critical financing gap for institutional players in the digital asset sector, moving beyond collateralized lending to business-operating credit. With cumulative onchain private credit originations estimated at $14 billion, the fund's approach could signal a maturing market for tokenized credit and further institutionalization of crypto finance. The fund is new and unproven, but its structure and backers mark a notable shift in risk assessment and capital allocation.

Source: The Block