Polychain

Polychain Capital, based in San Francisco, California, stands as a pioneering and influential venture capital firm singularly focused on the cryptocurrency and blockchain sectors. Founded in 2016 by Olaf Carlson-Wee, Coinbase's first employee, Polychain quickly established itself as one of the earliest and largest dedicated crypto investment funds. Its investment thesis centers on identifying and backing foundational protocols and disruptive applications that leverage decentralized technologies, aiming to shape the future of Web3.

The firm employs a long-term, conviction-driven investment strategy, often taking significant stakes in early-stage projects, from seed to Series A and beyond. Polychain is known for its deep technical due diligence and its willingness to support projects through multiple funding rounds, often playing an active role in governance and ecosystem development. Over the years, Polychain has raised substantial capital, including a reported $400 million for its Polychain Ventures III fund in 2021, demonstrating its significant capital deployment capabilities. Its portfolio boasts a roster of industry giants, including early investments in protocols like Polkadot, Dfinity, and Avalanche, alongside decentralized finance (DeFi) innovators such as Uniswap and Compound.

Polychain's impact extends beyond capital provision; it acts as a strategic partner, leveraging its extensive network and expertise to guide portfolio companies. The firm's philosophy is rooted in a belief in the transformative potential of decentralized networks to redefine digital ownership, finance, and global coordination. While specific check sizes can vary based on the project's stage and capital requirements, Polychain typically deploys significant first checks, often ranging from $2 million for promising seed-stage ventures up to $25 million for leading Series A rounds. This substantial financial backing, combined with their strategic guidance, positions Polychain Capital as a formidable force in the evolving blockchain landscape.