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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...

The venture capital firm will allocate up to $200,000 to blockchain projects that it deems promising. On May 24, Singaporean venture capital firm Foresight Ventures announced that it would pledge an additional $10 million to its Foresight X Accelerator, bringing its total to $20 million. The move comes as the firm opens the second phase of accelerator applications, which will focus on Web3 projects building in the artificial intelligence (AI), zero-knowledge (ZK), machine learning, Bitcoin (BTC), liquid staking derivatives, and nonfungible token ecosystems. Previously, Foresight earmarked $10 million for its accelerator , which launched last November. In its first phase, Foresight focused on 30 companies from its Web3 project pool, providing an investment of $50,000 to $200,000. As the accelerator moves into its second phase, Foresight will allocate $200,000 to each selected project and assign up to three mentors and one fund partner from the VC firm to provide practical guidance...

Decentralized exchange UniSwap and venture capital firm Andressen Horowitz were revealed as former clients of LaBolt in a recently published public financial disclosure report. United States President Joe Biden will reportedly ban his communications director from handling matters related to any crypto or technology firms he has previously worked with, while allowing him to advise on crypto regulation. According to an April 22 Bloomberg Law report, the White House communications director Ben LaBolt will be barred from “participating in legal matters, investigations, or contracts involving cryptocurrency or technology firms he previously represented.” Decentralized exchange UniSwap and Venture Capital firm Andressen Horowitz – an early investor in Coinbase Global Inc – were both former clients of Bully Pulpit Interactive (BPI), where LaBolt was previously a partner, according to a public financial disclosure Report published on April 21. Both firms were among a list of 23 clients payi...