TechFlow reported, citing Bloomberg, that according to sources familiar with the matter, cryptocurrency venture firm Polychain Capital is making substantial distributions to investors in two of its funds. Polychain Capital has a total of four venture funds, and this week it will begin distributing 44% of the holdings from its Polychain Ventures II fund to investors. The firm initially raised approximately $300 million for this fund in 2019, and its current value may be higher.
Sources added that earlier this year, Polychain also distributed roughly half the value of its first fund, which had raised $175 million in 2018. A company spokesperson declined to comment.
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