1 year ago
Blockchain-focused task superior (VC) steadfast Polychain Capital has raised astir $200 cardinal successful an archetypal adjacent for its 4th crypto task superior fund, Fortune reported citing a idiosyncratic acquainted with the matter.
Fortune said that Polychain inactive plans to rise $400 cardinal successful full for the fund, which matches the targeted magnitude successful an April filing with the U.S. Securities and Exchange Commission for its Polychain Ventures IV (Parallel) LP fund. The filing shows that the money had not raised immoderate superior yet.
The VC steadfast has besides fto spell of 3 members of its astir 15-member probe squad arsenic it shifts its investing focus, Fortune said citing the person.
Polychain Capital was founded successful 2016 by aboriginal Coinbase worker Olaf Carlson-Wee. The steadfast has astir $2.6 cardinal successful assets nether management, Fortune said citing Pitchbook data. The extended crypto wintertime has enactment unit connected the crypto concern scenery for some startups and the task superior firms that backmost them.
Polychain Capital didn't instantly respond to a petition for remark by CoinDesk.
Edited by Aoyon Ashraf.
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