Polychain Capital's cryptocurrency hedge fund added $19.5 million in investments in the past year, pushing the flagship fund's lifetime raise past $307 million.
- Polychain Fund I LP, which invests in cryptocurrencies and Simple Agreements for Future Tokens (SAFTs), raised the latest funds from at least 28 unnamed investors, according to SEC filings published Thursday.
- The fresh raise by Polychain's oldest fund further bolsters the firm's status as one of the most popular spots for high-rolling crypto investors to park their millions. Over 300 investors have now bought in. Polychain did not return CoinDesk calls.
- In March, CoinDesk reported Fund I delivered 1,332% gains to the steely stomached original investors who stuck it out through four years of market dips and soars.
- Polychain Capital also disclosed Thursday that Dfinity Ecosystem Fund LP, an associated investment vehicle that bets on venture-backed companies, raised $12 million from two investors since August 2019.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.