Polychain Capital

Polychain Capital is a cryptocurrency-focused venture capital and hedge fund firm founded in 2016. Headquartered in San Francisco, the firm combines actively managed liquid token portfolios with long-horizon venture investing, focusing primarily on base-layer blockchain networks and economic primitives. Institutional backers include Andreessen Horowitz, Sequoia Capital, Union Square Ventures, and Founders Fund. The firm has raised multiple funds totaling hundreds of millions of dollars, managing approximately $4 billion in assets at its peak in April 2021. Typical check sizes range from $100K to $10 million. In May 2024, it began distributing returns to investors from two of its earlier venture funds. Notable portfolio investments include Coinbase, Filecoin, Dfinity, Compound, Celo, Osmosis, Acala, and Sui, spanning DeFi, layer-1 and layer-2 protocols, and broader crypto infrastructure.