Polychain Capital LPTypePrivateIndustryHedge FundVenture CapitalFounded2016; 6 years ago (2016)[1][2][3]FounderOlaf Carlson-WeeHeadquartersSan Francisco, California, U.S.[4]ProductsInvestmentsAUMUS$6.6 billion (March 2022)[4]38[4]WebsiteOfficial website

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]

Background[edit]

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 March 2022, the company manages approximately $6.627 billion in investments.[4]

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

References[edit]

  1. ^ abcd“Bitcoin Will Never Be a Currency—It’s Something Way Weirder”. Wired.
  2. ^ abcdChernova, Yuliya (9 December 2016). “Polychain’s Blockchain Hedge Fund Gets Backed by Andreessen, USV”. Wall Street Journal.
  3. ^ abcCopeland, Rob (11 September 2018). “Olaf Carlson-Wee Rode the Bitcoin Boom to Silicon Valley Riches. Can He Survive the Crash?”. Wall Street Journal.
  4. ^ abcde“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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