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Polychain Capital

548 Market Street, Suite 64375, San Francisco, CA, 94104, United States

Overview

Investment firm focused on actively managed blockchain asset portfolios.

Deals · 12mo

23

Links

WebsiteLinkedIn

Stage focus

Seed

Geographic focus

Singapore
Switzerland
United States

Sector focus

Bitcoin
Cryptocurrency
Hedge Funds
Venture Capital

Investment portfolio

179rounds
NAMEDATESIZE
Glow Finance
Oct 2026Led
$10 MOther Equity
Concrete
Oct 2026Led
$10 MOther Equity
Yellow Card
Aug 2026Participated
$40 MOther Equity
Cambrian
Jun 2026Led
$6 MSeed
Power.Win
Jun 2026Led
$5 MOther Equity
Digital Asset
Jun 2026Participated
$355 MSeries F
Nava
Apr 2026Led
$8 MSeed
Silhouette Exchange
Mar 2026Led
$8 MSeed
VeryAI
Mar 2026Led
$10 MSeed
Tria
Jan 2026Participated
$12 MOther Equity
Billions
Dec 2025Participated
$35 MSeed
ETHGas
Dec 2025Led
$12 MSeed
Glow Finance
Oct 2026Led
$10 MOther Equity
Concrete
Oct 2026Led
$10 MOther Equity
Yellow Card
Aug 2026Participated
$40 MOther Equity
Cambrian
Jun 2026Led
$6 MSeed
Power.Win
Jun 2026Led
$5 MOther Equity
Digital Asset
Jun 2026Participated
$355 MSeries F
Nava
Apr 2026Led
$8 MSeed
Silhouette Exchange
Mar 2026Led
$8 MSeed
VeryAI
Mar 2026Led
$10 MSeed
Tria
Jan 2026Participated
$12 MOther Equity
Billions
Dec 2025Participated
$35 MSeed
ETHGas
Dec 2025Led
$12 MSeed
179
Items
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Insights

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Deal Distribution

Polychain Capital: 179 funding rounds are recorded in the selected participation categories.All available history.
Polychain Capital: 179 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed4923
Series A179
Series B54
Series C+04
Other Equity3431
ICO21

Monthly Deal Activity

Polychain Capital: 179 deals are recorded across 105 months.All available history.
Polychain Capital: 179 deals are recorded across 105 months. All available history
MonthDeals
Feb '181
Mar '180
Apr '181
May '182
Jun '180
Jul '182
Aug '184
Sep '181
Oct '181
Nov '181
Dec '180
Jan '190
Feb '190
Mar '190
Apr '191
May '191
Jun '190
Jul '193
Aug '191
Sep '190
Oct '192
Nov '191
Dec '191
Jan '200
Feb '202
Mar '201
Apr '200
May '201
Jun '201
Jul '200
Aug '202
Sep '200
Oct '203
Nov '200
Dec '200
Jan '211
Feb '212
Mar '211
Apr '212
May '210
Jun '211
Jul '216
Aug '211
Sep '215
Oct '213
Nov '218
Dec '213
Jan '221
Feb '222
Mar '221
Apr '222
May '222
Jun '220
Jul '223
Aug '221
Sep '223
Oct '224
Nov '221
Dec '225
Jan '230
Feb '232
Mar '231
Apr '230
May '231
Jun '232
Jul '232
Aug '230
Sep '230
Oct '231
Nov '231
Dec '235
Jan '242
Feb '244
Mar '244
Apr '247
May '244
Jun '243
Jul '243
Aug '247
Sep '241
Oct '243
Nov '242
Dec '241
Jan '250
Feb '251
Mar '252
Apr '250
May '251
Jun '252
Jul '250
Aug '250
Sep '252
Oct '253
Nov '255
Dec '256
Jan '261
Feb '260
Mar '262
Apr '261
May '260
Jun '263
Jul '260
Aug '261
Sep '260
Oct '262

Sector Breakdown

Polychain Capital: Crypto & Blockchain is the largest displayed sector by deal count (141 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Polychain Capital: Crypto & Blockchain is the largest displayed sector by deal count (141 deals). All available history
SectorDeals
Crypto & Blockchain141
Fintech60
Enterprise Software30
Networks, Cloud & Communication30
AI & Machine Learning24
Developer Tools16
Cybersecurity & Privacy9
Data, Analytics & IT9
Gaming & eSports8
Media & Entertainment7
Hardware & Robotics6
Clean Energy & Sustainability5
Social & Community Platforms5
Health & Life Sciences4
Professional Services4
Education & Workforce3
E-Commerce & Retail3
AR/VR2
Real Estate & Construction2
Consumer & Lifestyle2
Food & Agriculture2
Travel & Hospitality1
Government & Defense1
Marketing & Advertising1

Deal Size Distribution

Polychain Capital: 179 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Polychain Capital: 179 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M35
$5M-$10M50
$10M-$25M47
$25M-$50M28
$50M-$100M8
$100M-$250M8
$250M-$500M1
$500M-$1B2
$1B+0

Deals By Geography

Polychain Capital: United States has the largest recorded deal count among the displayed regions (112 deals).All available history.

Top 10 of 20 regions; European countries are grouped as Europe.

Polychain Capital: United States has the largest recorded deal count among the displayed regions (112 deals). All available history
RegionDeals
United States112
Europe21
Singapore13
Canada7
United Arab Emirates4
Australia3
Cayman Islands2
Israel2
India2
Seychelles2
Polychain Capital: 20 co-investors are shown, with Coinbase Ventures sharing 28 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Polychain Capital: 20 co-investors are shown, with Coinbase Ventures sharing 28 recorded deals. All available history
Co-investorShared deals
Coinbase Ventures28
Andreessen Horowitz14
Dragonfly14
dao513
Hack VC11
Nomad Capital11
YZI Labs11
Castle Island Ventures9
Electric Capital9
Lemniscap8
Pantera Capital8
Robot Ventures8
1kx7
Framework Ventures7
Paradigm7
Placeholder7
Archetype6
Bain Capital Ventures6
Blockchain Capital6
CMT Digital6

Investment Strategy

Polychain Capital: Led accounts for 60% and participating for 40% of round participation.All available history.
Polychain Capital: Led accounts for 60% and participating for 40% of round participation. All available history
CategoryDeals (count)Share (%)
Led10760%
Participating7240%
Polychain Capital: Single-lead accounts for 60% and co-led for 40% of lead dynamics.All available history.
Polychain Capital: Single-lead accounts for 60% and co-led for 40% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead6460%
Co-led4340%

Team

Alexa Smith

Beacon Fund Manager

Ben Perszyk

Partner

Bobby Beniers

Research Partner

Jing Sun

LP Investor

Luke Pearson

Senior Research Cryptographer

Matt Perona

COO and CFO

Niraj Pant

General Partner

Olaf Carlson-Wee

Founder

William Wolf

Researcher