The firm targets a total fund size of $400M, slightly shy of initial goals crypto
approximately $200 million in its first funding round for its fourth fund, demonstrating a strong industry interest despite a recent decline in venture funding known as"crypto winter."
The company also announced staff changes, with three research team members being let go due to shifts in investment focus. Although the initial fundraising is encouraging, Polychain intends to raise around $400 million in total for the fourth fund, slightly less than their initial target. Polychain Capital is a cryptocurrency investment firm that specializes in investing in blockchain technologies and decentralized protocols. Founded in 2016 by Olaf Carlson-Wee, who was Coinbase's first employee, Polychain Capital operates like a traditional venture capital firm but focuses exclusively on cryptocurrencies and related technologies.The firm has made significant investments in leading blockchain companies and decentralized platforms, such as Uniswap and Yellow Card.
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