Share this article
Crypto VC Firm Polychain Capital Raises $200M for Fourth Fund: Fortune
The crypto-focused firm has also cut three members of its research and development staff, Fortune reported.
Updated Jul 18, 2023, 4:13 p.m. Published Jul 18, 2023, 4:13 p.m.
Blockchain-focused venture capital (VC) firm Polychain Capital has raised around $200 million in an initial close for its fourth crypto venture capital fund, Fortune reported citing a person familiar with the matter.
Fortune said that Polychain still plans to raise $400 million in total for the fund, which matches the targeted amount in an April filing with the U.S. Securities and Exchange Commission for its Polychain Ventures IV (Parallel) LP fund. The filing shows that the fund had not raised any capital yet.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The VC firm has also let go of three members of its around 15-member research team as it shifts its investing focus, Fortune said citing the person.
Polychain Capital was founded in 2016 by early Coinbase employee Olaf Carlson-Wee. The firm has about $2.6 billion in assets under management, Fortune said citing Pitchbook data. The extended crypto winter has put pressure on the crypto investment landscape for both startups and the venture capital firms that back them.
Polychain Capital didn't immediately respond to a request for comment by CoinDesk.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Nasdaq, home of Coinbase, Strategy stocks, seeks 23-hour trading amid investor demand
Crypto's 24/7 trading has influenced investor expectations, with Nasdaq acknowledging that many of its clients are already active overnight.
What to know:
- Nasdaq plans to expand stock and exchange-traded product trading to 23 hours a day, five days a week, according to a filing.
- The move follows similar initiatives by the New York Stock Exchange and reflects growing global demand for extended market access.
- Always-on cryptocurrency trading has influenced investor expectations, with Nasdaq acknowledging that many of its clients are already active overnight.
Top Stories
