At a time when crypto VC funding had seemingly dried up, venture capital firm polychain has raised $200 million for its newest fund and coinfund_io raised a better-than-expected $152 million.
Over $350 million has been raised by crypto venture capital firms Polychain Capital and Coinfund, whirespective reported raises of $200 million for a new investment fund and $152 million for a seed fund.said Polychain’s $200 million sum was raised in the “first close” of its fourth investment fund, according to sources familiar with the matter. The close means Polychain has now signed agreements with investors and can begin issuing funding to startups and projects.
Despite the significant raise, Polychain still intends to raise $400 million in total for the new fund. Additionally, Polychain let go of three members of its research team due to its new investing priorities. Polychain currently manages a total of three funds with approximately $2.6 billion in assets under management, according to Pitchbook
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