Hash3 cryptocurrency emerges from stealth mode

Hash3a new fonds with 29 million dollars which invests in Web3 startups and blockchain protocolshas officially debut.

Founded by an alumnus of US venture capital firm Canaan Partners, Hash3 focuses its investments on young companies specializing in the Web3 : crypto, blockchain and NFT.

On Tuesday, its founder Hootan Rashidifard announced the official launch of the fund and unveiled its ambitions.

With 29 million dollars, Hash3 invests between $250k and $1 million in each project and already supports a dozen startups with EigenLayer, CanvasIronForge, Ajna Finance, Cat Labs and others Crossmint.

Hash3 was conceived when I first met Surojit Chatterjee, Coinbase’s former product manager, and then Ramani Ramachandran, co-founder and CEO of Router Protocol. We had the thesis that by linking the knowledge of seasoned operators with ambitious founders, we can help increase the chances of success,” wrote Hootan Rashidifard in a blog post.

Based in Miami, Hash3 counts renowned advisors such as Surojit Chatterjee and Yuga Cohler of Coinbase and Corey Miller of dYdX.

1/ today, i am launching @hash3xyza $29m seed stage crypto fund investing $250k-1m into passionate founders building an open and permissionless future pic.twitter.com/rWwDFVFXUp

– Hootie Rashidifard (@Hootie_R) June 27, 2023

At Canaan Partners, Rashidifard spent 5 years managing investments in the crypto and fintech.

“I think there’s still a lot to be built up at the infra/middleware layer, particularly in terms of thescalabilitythe safetythe privacythe decentralization without oracle and ease of use […] The solutions built today on these layers will become the composable fabric for future utility-rich applications, catalyzing new markets and bringing self-sovereignty to the masses,” the executive added on his blog.

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