United States · Investor

Polychain

Last cheque observed Oct 2026; 152 cheques on record.

Deploying nowNew fund $835M, Apr 2026VC firm

Pre-seedSeedSeries ADecentralizedNftsDefi

Deploying now
66%of best year19cheques in 12 months, 152 on record
Since the last cheque4days00hrs00min00sec
Median round$10MCheque size, as they say$100K – $5.0MRounds led11 of 152Sole investor2 roundsMostly inUnited States, 66%
Pitch Polychain

Polychain highlights

  1. 01

    19 cheques in the last 12 months

  2. 02

    Mostly Seed and Venture: 69% of its rounds

  3. 03

    Sole investor in 2 rounds, median $10M

What they do

Polychain is an investment firm committed to exceptional returns for investors through actively managed portfolios of these blockchain assets.From their own website
Type
VC firm
Cheque size
$100K – $5.0M as they say
Stages
Pre-seedSeedSeries ASeries B
Sectors
DecentralizedNftsDefi
Based in
San Francisco, United States
Cold pitches
Not stated

The record

Every round we can evidence, newest first152 appearances

  1. 2026

    13 rounds

  2. Oct
  3. Oct
    Uniform LabsSeed · US · PR Newswire: venture capitalUndisclosedLed
  4. Sept
    GrassVenture · IE$10MWith 3 others
  5. Aug
    Yellow CardSeries C · NG · Convergence Partners$40MWith 8 others
  6. Jun
    Digital AssetSeries F · US · SC Ventures$355MWith 28 others
  7. Jun
    Vesper EnergyDebt · US$236MWith 1 other
  8. Jun
    CambrianSeed · US$6.0MWith 4 others
  9. Jun
    Power.winSeed · CR$5.0MWith 1 other
  10. May
    FoundationVenture$6.4MWith 3 others
  11. Apr
    PolymarketUS · TechStartups$400MWith 2 others
  12. Apr
    DriftDebt · AU$100MWith 3 others
  13. Mar
    VeryAISeed · TechStartups$10MLed
  14. Mar
    Forum MarketsDebt · US$10MWith 3 others
  15. 2025

    27 rounds

  16. Dec
    DAWN (Andrena)Series B · Ventureburn$13MLed
  17. Dec
    CascadeUS · Ventureburn$15MLed
  18. Dec
    dawnSeries B · US$13MWith 5 others
  19. Dec
    ETHGasSeed · HK$12MWith 4 others
  20. Nov
    SeismicVentureburn$10MWith 5 others
  21. Nov
    Tharimmune, Inc.US · Ventureburn$540MWith 7 others
  22. Oct
  23. Oct
    AriaSeed · Ventureburn$15MWith 2 others
  24. Oct
    TriaPre-seed · TechStartups$12MWith 11 others
  25. Oct
  26. Oct
    APRO OracleVenture · SGUndisclosedWith 4 others
  27. Oct
    Allora LabsVenture · US$35MWith 5 others
  28. Sept
    M0Series B · Ventureburn$40MLed
  29. Sept
    Talus NetworkVenture · US$10MWith 2 others
  30. Sept
    Aria Protocol LabsSeed$15MWith 2 others
  31. Aug
    Billions NetworkVenture · CH$30MWith 5 others
  32. Aug
    ShrapnelVenture · US$20MWith 2 others
  33. Jul
    Fluent LabsSeed · US$2.2MWith 1 other
  34. Jun
    EigenLabsVenture · US$70MWith 4 others
  35. May
    DogeOSVenture$6.9MWith 1 other
  36. Apr
    Bagel AISeed · US$5.5MWith 7 others
  37. Apr
    BerachainVenture · KYUndisclosedWith 6 others
  38. Mar
    Warlock LabsSeed · NL$8.0MWith 2 others
  39. Mar
    LevelSeed · US$2.6MWith 4 others
  40. Feb
    Fluent LabsSeed · US$8.0MWith 2 others
  41. Feb
    VanaVenture · USUndisclosedWith 5 others
  42. Jan
    OshiSeed · SG$13MWith 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

The team

Named by the firm itself, on a filing, its Form ADV or its company registration10 named

JDJohn D'AgostinoDirectoriFiling they signed
JEJoseph EaganDirectoriFiling they signed
JRJosh RosenthalDirectoriFiling they signed
MCMatthew Clifford PeronaChief Operating OfficeriForm ADV
MRMitchell Rand NedvedChief Financial OfficeriForm ADV
MOMorris Olaf Carlson-WeeLimited Partner, Chief Investment OfficeriForm ADV
OCOlaf Carlson-WeeManaging Member of Polychain Opportunity Partners LLC.iFiling they signed
PMParas MaldeDirectoriFiling they signed
RGRuby Gurbir SekhonChief Compliance Officer, Chief Legal Officer.iForm ADV
RJRyan Jack ZurrerLimited PartneriForm ADV

We also hold 12 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

What the register says

From the firm's own filings with the SEC, which it must file accurately by law

$2.9Bassets it managesOct 2026
4+funds on filenumbered funds in its name
Registeredinvestment adviserfull reporting to the SEC
Legal name
Polychain Capital LP
SEC number
CRD 285022

Funds on its Form ADV

15 private funds, $4.8B in gross assets · filed Mar 2024

Private equity 12Hedge 3

  1. Polychain Master Fund I L.P.Hedge428 investors$1.7B
  2. Polychain Ventures II L.P.Private equity169 investors$881M
  3. Polychain Ventures L.P.Private equity107 investors$793M
  4. Polychain Ventures III L.P.Private equity206 investors$433M
  5. Polychain Ventures II (Parallel) L.P.Private equity47 investors$380M
  6. Polychain Ventures III (Parallel) L.P.Private equity56 investors$233M
  7. Polychain Parallel Fund I L.P.Hedge22 investors$160M
  8. Dfinity Ecosystem Fund L.P.Private equity9 investors$55M
  9. Polychain Opportunities Fund I LLC - Series CDCXPrivate equity46 investors$40M
  10. CELO Ecosystem Fund L.P.Private equity2 investors$38M

And 5 more on the filing.

Who they invest alongside

The investors most often in the same rounds as Polychain. A count of rooms they were both in, not a relationship either has claimed.

Recently backed

The latest companies Polychain put money into.

On podcasts

2 episodes naming Polychain in the title, and 4 more that mention it.

Mentioned in

Quick answers about Polychain

What does Polychain invest in?

Polychain invests most often at Seed and Venture (69% of the rounds on record), in sectors such as Decentralized, Nfts and Defi.

How active is Polychain?

152 investments on record, 19 of them in the last 12 months, and it led 11. The most recent was in Oct 2026.

What has Polychain invested in recently?

Its most recent investments on record: Multiliquid (Seed, Oct 2026), Uniform Labs (Seed, Oct 2026) and Grass (Venture, Sept 2026).

How big are Polychain's cheques?

The median round it joins is $10M. It says it writes cheques of $100K to $5.0M.

Does Polychain lead rounds?

Sometimes: it led 11 of its 152 investments on record (7%).

Where does Polychain invest?

Most of the companies it backs are in the United States (66%) and Singapore (7%).

Is Polychain investing now?

Yes: it is actively investing, with 19 investments in the last 12 months.

Who does Polychain invest alongside?

Most often Y Combinator (124 rounds together), Coinbase Ventures (23 rounds together) and Robot Ventures (13 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it