|Founded 📆||August 16, 2016|
|Founder 👔||Olaf Carlson-Wee|
|Headquarters 🏙️||San Francisco, California, United States|
Area served 🗺️
Number of employees
Polychain Capital (also simply referred to as Polychain) is a private American venture capital firm focused on early-stage companies in the cryptocurrency space. The firm is based in San Francisco, California, but invests globally. In June 2018, Polychain became the first cryptocurrency fund to manage $1 billion AUM.
The firm was founded in 2016 by Olaf Carlson-Wee, the first employee and former head of risk at Coinbase. In 2017, the firm raised capital from notable venture capital investors, including Andreessen Horowitz, Union Square Ventures, Founders Fund, and Sequoia Capital.
It was later revealed that Polychain had plans to raise C$400m in a public offering in Canada, but later decided against it. In December 2018, Polychain announced the close of its first venture capital fund, totaling $175 million in commitments. That same month, Ryan Zurrer, principal and venture partner at Polychain, was fired by the firm.
- "Olaf Carlson-Wee Rode the Bitcoin Boom to Silicon Valley Riches. Can He Survive the Crash?". Wall Street Journal. 2017-09-11. Retrieved 2019-03-21.
- "Polychain Becomes First $1 Billion Crypto Fund: What Happens Now?". Fortune. 2018-06-26. Retrieved 2019-03-21.
- "Leading Silicon Valley VCs Sequoia Capital and Andreessen Horowitz Invest in Blockchain Hedge Fund". Coin Telegraph. 2017-07-28. Retrieved 2019-03-21.
- "Crypto Hedge Fund Polychain Says It Won't Proceed With IPO". Bloomberg. 2018-01-29. Retrieved 2019-03-23.
- "Pro Rata - December 18, 2018". Axios. 2017-12-18. Retrieved 2019-03-21.
- "Ryan Zurrer, a top player at crypto fund Polychain, was fired by the firm amid weak 2018 performance". The Block. 2018-12-04. Retrieved 2019-03-21.
- "'World Computer' Project Dfinity Raises $102 Million". Fortune. 29 August 2018.
- "Coinbase raises Series E round of financing to accelerate the adoption of cryptocurrencies". Coinbase. 30 October 2018.
- "Andreessen-funded dYdX plans 'short Ethereum' token for haters". TechCrunch. 3 August 2018.
- "Dharma Labs Raises $7 Million From Green Visor, Coinbase and Polychain". CoinDesk. 5 February 2019.
- "Ex-GoDaddy Execs Raise $6.5 Million for Cheap, Android Phone-Friendly Blockchain". Fortune. 22 June 2018.
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