Polychain secures $200m for fourth crypto VC fund amid staff departure
Polychain Capital has successfully secured approximately $200 million in the first round of funding for its fourth crypto venture capital fund. A source familiar with the matter revealed that Polychain intends to reach a total fundraising goal of $400 million for the fund. A substantial fundraising achievement Established in 2016 by Olaf Carlson-Wee, Coinbase’s first employee, Polychain Capital is a VC firm focused on blockchain investments. The firm’s projected $400 million target is said to match the amount outlined in its April filing with the U.S. Securities and Exchange Commission for the Polychain Ventures IV (Parallel) LP fund, according to Fortune. You might also like: Coinbase’s regulatory woes in US far from over, analysts opine Despite substantial fundraising achievement, Polychain Capital has undergone staff changes, resulting in the departure of three members from its research team due to a shift in investment focus. The company has taken the lead i...