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Polychain

San Francisco, California · Invests in US; Asia; UK · Website

SeedSeries ASeries BDeveloper ToolsFintechCrypto & Web3Fintech & PaymentsDeveloper Tools & Infrastructure

Thesis

Blockchain-based digital assets represent a new asset class with mathematical scarcity. We invest in protocols and infrastructure building the foundational layer of decentralized internet, combining venture capital with active hedge fund portfolio management to capture long-term protocol upside and near-term market opportunities.

Likely not a fit for

We avoid non-technical teams, projects focused on quick exits rather than long-term protocol development, and ventures without clear economic/cryptographic innovation.

How they invest

Lead or follow
Usually leads
Typical decision
~1 month
Warm intro
Preferred
Involvement
Takes a board seat
Fund status
Actively deploying
Assets under mgmt
$5B
Decision process
Partnership vote

Partners & team

3 contacts on file

OC

Olaf Carlson-Wee

General PartnerFounder, Chief Executive Officer · Primary contact

+ Pitch

LinkedIn profile

X profile

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JR

Josh Rosenthal

PartnerPartner and Portfolio Manager

+ Pitch
CS

Cortney Smith

Platform & OpsHead of Asset Operations

+ Pitch

Portfolio

ETHGasDeveloper Tools Infra

ETHGas.io provides real-time gas price estimates for Ethereum transactions.

CascadeBiotech Life Sciences

Cascade is a biotechnology company that specializes in developing cell-free biocatalysts, branded as Body Armor for Enzymes™, which significantly enhance enzyme performance and stability. Their innovative approach allows for the use of stabilized enzymes on silica beads, making them versatile and easy to integrate into existing processes across various industries.

DAWN
AndrenaEnterprise Software

Andrena provides high-speed Internet services starting at $30 per month, focusing on affordability and simplicity for residents and businesses. Their service includes plans up to 1 Gbps with no hidden fees and quick setup.

Polygon

Polygon is a leading blockchain platform designed for payments, offering a suite of solutions that enhance cross-chain interoperability and streamline transactions. With a focus on lower-cost, efficient payment rails, Polygon integrates stablecoins and supports a variety of on-chain assets, making it a go-to choice for developers and users alike.

EclipseManufacturing Industrial

Eclipse Automation is a trusted leader in delivering cutting-edge manufacturing automation solutions, tailored to the unique needs of each client. They harness multi-industry know-how and the power of vertical integration to provide seamless custom automated systems that bring customers’ products to life.

CompoundFintech Payments

Compound is a decentralized finance platform that offers an algorithmic interest rate protocol for developers. It aims to create open financial applications.

AaveFintech Payments

Aave is a decentralized non-custodial liquidity protocol that allows users to supply and borrow assets, earning interest on their deposits and accessing liquidity against collateral.

UniswapFintech Payments

Uniswap is a decentralized protocol that enables peer-to-peer trading of digital assets using Automated Market Makers (AMMs), allowing users to swap tokens, lend, borrow, and build in a decentralized finance (DeFi) ecosystem.

Coinbase

Coinbase is a leading cryptocurrency exchange platform that allows users to buy, sell, and trade a variety of cryptocurrencies including Bitcoin and Ethereum. It also offers services for businesses and institutions, providing tools for crypto trading, payments, and asset management.

SequenceBiotech Life Sciences

Sequence is a financial technology company and a consulting firm specializing in biopharmaceutical manufacturing, offering consulting services and solutions for the pharmaceutical, biotech, and life-science industries.

ValoraFintech Payments

Valora is a mobile crypto wallet that allows users to save, earn, and send cryptocurrencies easily, focusing on accessibility and user-friendliness.

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Research briefRead more
Polychain Capital Research Investment Thesis Polychain Capital is a pioneer in blockchain-focused venture capital that combines traditional venture investing with hedge fund-style liquid token trading. Founded in 2016 by Olaf Carlson-Wee (Coinbase's first employee), the firm manages over $5 billion in assets across multiple funds and has become one of the most prominent institutional investors in

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