Hashed anchors $300 million private credit fund for digital assets

Crypto venture firm Hashed has anchored a new $300 million private credit fund managed by Thoro Capital Management, founded by Mohamed Hamdy. The fund aims to provide direct dollar-denominated loans settled via stablecoins to digital asset institutions, addressing financing bottlenecks where traditional banks face regulatory constraints and existing crypto lenders rely heavily on collateral. By utilizing covenant-based underwriting, the fund evaluates borrowers based on financial health and cash flow. Hashed, which recently secured a financial services license from the Abu Dhabi Global Market, serves as the primary investor.