Polychain

Polychain Capital is a crypto-native investment firm managing $50M+ per investment in blockchain networks and protocols. Founded in 2016 by Olaf Carlson-Wee (first employee at Coinbase), Polychain was the first crypto-focused hedge fund and has backed many of the most important blockchain networks.

For ZHC builders, Polychain brings institutional credibility, regulatory expertise, and deep connections across both traditional finance and crypto. They're comfortable with both early-stage venture and liquid token investments, making them unique among crypto VCs.

Investment Focus

• Layer 1 protocols - New blockchain networks
• DeFi infrastructure - Core financial primitives
• Crypto applications - Consumer and enterprise
• Privacy tech - Zero-knowledge, confidential computing
• Interoperability - Cross-chain infrastructure

Stage Preferences

• Seed to growth
• Equity, tokens, or SAFTs
• Comfortable with liquid positions
• Long-term holding (3-7 years)

ZHC-Specific Fit

✅ Excellent for:

• Protocol-level innovations
• Novel consensus or cryptography
• DeFi with institutional appeal
• Cross-chain infrastructure
• Privacy-preserving technologies

❌ Poor fit if:

• No token component
• Pure Web2 business model
• Unclear regulatory path

Investment Process

Investment Size

• Seed: $1M-$5M
• Series A: $5M-$20M
• Growth: $20M+
• Liquid tokens: Flexible

Institutional Strengths

• First crypto-focused hedge fund (founded 2016)
• Regulatory compliance expertise
• Traditional finance connections
• Institutional LP base (endowments, foundations)
• Legal and compliance infrastructure
• Portfolio of 100+ crypto projects
• Research and market intelligence
• Willing to hold through volatility

• Polychain Capital
• Portfolio
• Twitter/X
• Intro via portfolio companies or crypto network