Hashed anchors $300 million private credit fund for digital assets
VC & Fundraising ·
The crypto venture firm is backing a new fund aimed at closing institutional financing gaps in the digital asset sector.
Hashed has launched a private credit fund targeting $300 million in capital, according to The Block. The fund is designed to provide institutional-grade financing to digital asset ventures, a segment that has historically had limited access to structured credit products compared with traditional finance.
The fund will use covenant-based underwriting, a lending approach that ties borrower obligations to specific financial conditions or performance metrics, as its core mechanism for extending credit. That structure is intended to give lenders more control and visibility over borrower risk in a market where standardized credit assessment tools remain underdeveloped, per coverage of the launch.
Part of the fund's mandate includes supporting Toro Capital's international expansion, positioning the vehicle not just as a general-purpose lending pool but as a tool tied to specific portfolio growth plans within the digital asset space. Additional detail on the structure of the fund, including terms of the underwriting framework, is discussed at Leviathan News.
Four distinct sources have covered the fund's launch, consistently citing the $300 million target and Hashed's role in anchoring the vehicle. The repeated emphasis across coverage on covenant-based underwriting suggests the mechanism is central to how Hashed is differentiating the fund from other digital asset lending efforts.
Not yet disclosed is the fund's timeline for reaching its $300 million target, the identity of other anchor investors or limited partners beyond Hashed, and specific terms of the covenant structures being applied to borrowers. How quickly capital is deployed toward Toro Capital's expansion, and whether other digital asset ventures gain access to the fund's financing, remain open questions.