TechFlow News — Polychain Capital, a venture capital firm focused on blockchain, has raised approximately $200 million in the initial close of its fourth cryptocurrency venture fund.
Polychain still plans to raise a total of $400 million for the fund. As it shifts investment focus, the firm has also laid off three members of its roughly 15-person research team.
Founded in 2016 by Olaf Carlson-Wee, an early employee of Coinbase, Polychain Capital manages around $2.6 billion in assets, according to PitchBook data.
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