Reportedly, Polychain Capital, an American Venture Capital firm that manages a Crypto Hedge fund that invests in blockchain technology and early token sales, opened the second venture fund starting at the beginning of 2020 aimed to backing early-stage crypto startups pre-seed, seed and Series A funding rounds and it started accepting minimum investments of $1 million for up to three years. According to the information of Polychain Slide deck rising of $175 million was done in the first venture which was split 40 percent to startups that improved on existing blockchain infrastructure and 60 percent to startups that explored less-tested industry concepts.
As said by U.S Securities and Exchange Commission, the second venture fund was registered in December last year. But there is no report on funding progress and specifics because of investor restrictions. It is expected that in the second venture fund priority will be given to Blockchain networks with expanded privacy, engineering and flexibility. Polychain with its first fund searched exposure to cryptocurrency exchanges and custodians through the investments that were deemed foundational to the industry. New investments in the flagship venture portfolio trended toward decentralized financial entities.
The Way of the Venture
Investors in Polychain Capital reportedly have figured out technology venture capital firms and some of which have co-invested in Polychain portfolio companies. None of Polychain Capital’s reported venture fund investments has issued a public offering. No Polychain Capital’s venture fund investments have issued a public offering to date. Polychain Capital’s fund came down from $967.8 million in August 2018 to $591.1 million in March 2019 according to the SEC filings. In this asset issue, a claim from Polychain Capital raised that its crypto asset fund manages some $550 million. Reportedly, they have the total asset in cryptocurrencies, equity in company investments and unspent investment money. It is noted by Polychain Capital that the hedge fund is simultaneously taking investments north of $1 million on a rolling basis.