Polychain Capital

Polychain Capital (Polychain) is an American investment firm based in San Francisco, California.[4] The firm focuses on investments related to cryptocurrency and blockchain technology.[1][2]

Polychain Capital LP
TypePrivate
IndustryHedge Fund
Venture Capital
Founded2016 (2016)[1][2][3]
FounderOlaf Carlson-Wee
HeadquartersSan Francisco, California, U.S.[4]
ProductsInvestments
AUMUS$2 billion (June 2021)[4]
Number of employees
38[4]
WebsiteOfficial website

Background

Polychain Capital was founded in 2016 by Olaf Carlson-Wee.[1][2][3] Prior to founding Polychain, Carlson-Wee was an employee of Coinbase where he was Head of Risk.[1][2]

Shares in Polychain have been purchased by Sequoia Capital, Union Square Ventures and Founders Fund.[3][5][6]

The firm claimed $1 billion assets in 2017 but dropped to $591.5 million as of the end of 2018, majorly due to the drop in the value of its holdings.[7] Per its SEC filings as of June 2021, the company manages approximately $2 billion in investments.[4]

Companies that Polychain Capital has invested in include Kik Messenger, [8] Dfinity[9] and Tezos.[10]

References
  1. "Bitcoin Will Never Be a Currency—It's Something Way Weirder". Wired.
  2. Chernova, Yuliya (9 December 2016). "Polychain's Blockchain Hedge Fund Gets Backed by Andreessen, USV". Wall Street Journal.
  3. Copeland, Rob (11 September 2018). "Olaf Carlson-Wee Rode the Bitcoin Boom to Silicon Valley Riches. Can He Survive the Crash?". Wall Street Journal.
  4. "Form ADV" (PDF). SEC.
  5. "Has Crypto's Crown Prince Finally Grown Up?". Fortune. Retrieved 2021-05-15.
  6. "Crypto Hedge Fund Polychain Says It Won't Proceed With IPO". Bloomberg.com. 29 January 2018. Retrieved 2021-05-15.{{cite news}}: CS1 maint: url-status (link)
  7. Chernova, Yuliya (2019-04-12). "Crypto Fund Polychain's Assets Drop 40% From $1 Billion Mark". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-09-01.
  8. "Kik raises $50 million ahead of token sale for its cryptocurrency Kin". VentureBeat. 2017-08-29. Retrieved 2021-09-01.
  9. Williams-Grut, Oscar (February 7, 2018). "Andreessen Horowitz is backing a crypto-powered 'internet computer' that could be the future of cloud computing". Business Insider. Retrieved 2021-09-01.
  10. Vigna, Paul (2018-02-01). "Bitcoin Brawl: A New Twist In Tezos's $232 Million Coin Offering". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-09-01.
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