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Polychain Capital

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Polychain Capital LP
Company typePrivate
IndustryHedge Fund
Venture Capital
Founded2016; 8 years ago (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]
Websitehttps://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]

The firm's main business is managing short-term and long-term positions of digital assets mainly related to cryptocurrency.[citation needed]

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]

Polychain secured investments from venture capital firms 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 firm has just over $2 billion in assets under management.[4]

Notable investments

References

  1. ^ a b c d "Bitcoin Will Never Be a Currency—It's Something Way Weirder". Wired.
  2. ^ a b c d Chernova, Yuliya (9 December 2016). "Polychain's Blockchain Hedge Fund Gets Backed by Andreessen, USV". Wall Street Journal.
  3. ^ 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.
  4. ^ a b c d e "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". www.bloomberg.com. Retrieved 2021-05-15.{{cite web}}: 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. "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.
  11. ^ Jr, Tom Huddleston (2021-04-14). "Coinbase's first employee in 2013 cold-emailed the founders for a job — and was paid in bitcoin for 3 years". CNBC. Retrieved 2021-09-02.
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