Polychain Capital LP, doing business as 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]
 | |
Company type | Private |
|---|---|
| Industry | Investment management |
| Founded | 2016[1][2][3] |
| Founder | Olaf Carlson-Wee |
| Headquarters | San Francisco, California, U.S.[4] |
| Products | Hedge Funds Venture Capital |
| AUM | US$5 billion (2024)[4] |
Number of employees | 32 (2024)[4] |
| Website | Official website |
Background
editPolychain Capital was founded in 2016 by Olaf Carlson-Wee.[1][2][3][5][6] Prior to founding Polychain, Carlson-Wee was the first employee at Coinbase where he was Head of Risk.[1][2][5]
Investors of Polychain include Andreessen Horowitz, Sequoia Capital, Union Square Ventures and Founders Fund.[3][5][6][7]
In January 2018, the firm considered holding an initial public offering on the Toronto Stock Exchange to raise $325 million but eventually decided not to proceed with it.[6]
The firm claimed $1 billion assets at the start of 2018 but dropped to $591.5 million as of the end of 2018, majorly due to the drop in the value of its holdings.[8][9]
In May 2024, Polychain made large payouts to Investors from two of its venture capital funds. [10]
Companies that Polychain Capital has invested in include Coinbase, Kik Messenger[11] and Tezos.[12][13]
See also
editReferences
edit- 1 2 3 4 "Bitcoin Will Never Be a Currency—It's Something Way Weirder". Wired.
- 1 2 3 4 Chernova, Yuliya (December 9, 2016). "Polychain's Blockchain Hedge Fund Gets Backed by Andreessen, USV". Wall Street Journal.
- 1 2 3 Copeland, Rob (September 11, 2018). "Olaf Carlson-Wee Rode the Bitcoin Boom to Silicon Valley Riches. Can He Survive the Crash?". Wall Street Journal.
- 1 2 3 4 "Form ADV" (PDF). SEC.
- 1 2 3 Chernova, Yuliya. "Polychain's Blockchain Hedge Fund Gets Backed by Andreessen, USV". WSJ. Retrieved December 26, 2022.
- 1 2 3 "Crypto Hedge Fund Polychain Says It Won't Proceed With IPO". Bloomberg.com. January 29, 2018. Retrieved May 15, 2021.
- ↑ "Has Crypto's Crown Prince Finally Grown Up?". Fortune. Retrieved May 15, 2021.
- ↑ Chernova, Yuliya (April 12, 2019). "Crypto Fund Polychain's Assets Drop 40% From $1 Billion Mark". Wall Street Journal. ISSN 0099-9660. Retrieved September 1, 2021.
- ↑ "Polychain Becomes First $1 Billion Crypto Fund: What Happens Now? | Fortune". July 1, 2018. Archived from the original on July 1, 2018. Retrieved December 26, 2022.
- ↑ Weeks, Ryan (May 10, 2024). "Crypto VC Firm Polychain Makes Payouts to Investors in Two Funds". Bloomberg News. Retrieved January 14, 2025.
- ↑ "Kik raises $50 million ahead of token sale for its cryptocurrency Kin". VentureBeat. August 29, 2017. Retrieved September 1, 2021.
- ↑ Vigna, Paul (February 1, 2018). "Bitcoin Brawl: A New Twist In Tezos's $232 Million Coin Offering". Wall Street Journal. ISSN 0099-9660. Retrieved September 1, 2021.
- ↑ Cryptoboomz (August 1, 2025). "Polychain Capital – Top Blockchain Venture Fund". Cryptoboomz. Retrieved August 1, 2025.