Polychain Capital
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Type | Private |
---|---|
Industry | Hedge Fund Venture Capital |
Founded | 2016[1][2][3] |
Founder | Olaf Carlson-Wee |
Headquarters | San Francisco, California, U.S.[4] |
Products | Investments |
AUM | US$2 billion (June 2021)[4] |
Number of employees | 38[4] |
Website | Official 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[]
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[]
- ^ a b c d "Bitcoin Will Never Be a Currency—It's Something Way Weirder". Wired.
- ^ a b c d Chernova, Yuliya (9 December 2016). "Polychain's Blockchain Hedge Fund Gets Backed by Andreessen, USV". Wall Street Journal.
- ^ a b c Copeland, Rob (11 September 2018). "Olaf Carlson-Wee Rode the Bitcoin Boom to Silicon Valley Riches. Can He Survive the Crash?". Wall Street Journal.
- ^ a b c d e "Form ADV" (PDF). SEC.
- ^ "Has Crypto's Crown Prince Finally Grown Up?". Fortune. Retrieved 2021-05-15.
- ^ "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) - ^ 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.
- ^ "Kik raises $50 million ahead of token sale for its cryptocurrency Kin". VentureBeat. 2017-08-29. Retrieved 2021-09-01.
- ^ 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.
- ^ 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.
- Financial services companies established in 2016
- Companies based in San Francisco
- Hedge funds