San Francisco · Pre-Seed–Seed · 5 people tracked
Also known as POLYCHAIN CAPITAL LP
Investment thesis
Polychain focuses on the emerging digital asset class created by bitcoin and subsequent blockchain technologies, where scarcity derives from mathematical properties. It views blockchain-based assets as capable of being created, issued, and transmitted via software through cryptographic verification and game-theoretic equilibrium. The firm builds and actively manages portfolios of these blockchain assets with the goal of generating exceptional returns for its investors.
Source: firm website, verified Aug 25, 2026.
Team · 5 people
from public directories
Founder mafia
5 people who came through Polychain Capital went on to found or lead other companies.
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What they invest in
from 36 of 42 portfolio companiesCrypto & Web3 ×29Fintech ×14Data & Infrastructure ×12AI & Machine Learning ×10Developer Tools ×9Cloud Computing ×4Enterprise Software ×4Cleantech ×2
HQs:United States×9Switzerland×1Costa Rica×1
Investments · 42 tracked
founders shown can be your intro pathBy year:2026 · 42025 · 32024 · 52017 · 113 dated
0x provides onchain routing and liquidity aggregation infrastructure for enterprise wallets, payments platforms, and exchanges.
Crypto & Web3Data & InfrastructureFintechSan Francisco, US
Will Warren(Co-Founder & Co-CEO)inAmir Bandeali(Co-Founder & Co-CEO (formerly Co-Founder & CTO))Alex Q. Xu(Co-Founder)Fulvia Morales(Director of Product (previously Group Product Manager))Stuart Law(Head of Operations)Theo Gonella(Group Product Manager)
Co-investorsA.Capital VenturesArchetypeBitDAOBlockchain CapitalBlockchain.com VenturesCoinbase Ventures+14 more
Eclipse is a Layer 2 blockchain network for Ethereum that runs the Solana Virtual Machine (SVM), combining Solana's execution speed with Ethereum's liquidity to support high-throughput decentralized applications.
Crypto & Web3Developer ToolsFintech
Neel Somani(Founder)Vijay Chetty(CEO)Terry Chung(Head of Strategy)Ben Livshits(CTO)
Co-investorsHack VCDBAFenbushi CapitalMaven 11OKX VenturesPlaceholder+5 more
Eclipse builds an Ethereum Layer 2 network that uses the Solana Virtual Machine (SVM) as its execution environment, combining Solana's high-throughput execution with Ethereum's liquidity and security.
Crypto & Web3Data & InfrastructureDeveloper Tools
Neel Somani(Founder)Vijay Chetty(CEO)Ben Livshits(CTO)
Co-investorsDBAFenbushi CapitalHack VCMaven 11OKX VenturesPlaceholder+5 more
Fluent Labs develops blockchain infrastructure and consumer products, including the Fluent Network with blended execution that allows programs written for different virtual machines to run within the same blockchain state.
Crypto & Web3Data & InfrastructureDeveloper Tools
Co-investorsSymbolic Capital
Glow finances and deploys solar energy installations across multiple continents to reduce carbon emissions at scale.
CleantechClimate TechEnergy
David Vorick(Founder & CEO)
Co-investorsAndreessen HorowitzLattice CapitalTranspose Platform Management
MonkeyTilt is a crypto-based online gambling platform offering casino games (slots, live dealer tables, game shows, and exclusive originals), a sportsbook with pre-match and live betting, and poker, all funded through cryptocurrencies.
ConsumerCrypto & Web3GamingSan Jose, CR
Sam Kiki(Founder)
Co-investorsPantera CapitalCoinFundHack VCPaper Ventures
AltLayer provides infrastructure and autonomous agents for building intelligent applications on decentralized blockchain networks, including services for AI model access, DeFi integration, and rollup deployment.
AI & Machine LearningCrypto & Web3Developer Tools
BoardBalaji Srinivasan
Co-investorsBankless VenturesBollinger Investment GroupBreyer CapitalHack VCIOSG VenturesMoonhill Capital+3 more
Anoma is a blockchain protocol redesigned from first principles as digital infrastructure for self-sovereign coordination, aiming to give users control over the systems they use and provide a substrate for decentralized global coordination.
Crypto & Web3Data & InfrastructureDeep TechEnterprise Software
Adrian Brink(Co-founder)Christopher Goes(Co-founder)Awa Sun Yin(Co-founder)
Co-investorsBixin CapitalBixin VenturesCVP NoLimitElectric CapitalFigmentFlowdesk+11 more
Axelar is a blockchain interoperability network that connects institutions to onchain ecosystems through a single integration, letting them deploy stablecoins, real-world assets, and funds across 80+ blockchains.
Crypto & Web3Data & InfrastructureFintechWaterloo
Sergey Gorbunov(Executive Officer, Director)Georgios Vlachos(Director)
Co-investorsAndromeda CapitalBitDAOCoinbase VenturesCollab+CurrencyDCVC (Data Collective)Divergence+11 more
Bitlayer is a Bitcoin-focused blockchain infrastructure project offering YBTC (yield-bearing BTC), multichain support, and BTC deposit and trading functionality.
Crypto & Web3Data & InfrastructureFintech
Co-investors57Blocks CapitalABCDE CapitalAlphaLab CapitalBaseTwoCaladanNxGen+10 more
Blueprint provides an AI assistant and AI-native EHR for therapists and mental health practices, automating session transcription, clinical documentation, treatment plans, and administrative tasks like scheduling, billing, and telehealth.
AI & Machine LearningDigital HealthMental Health
Danny Freed(Founder)in
Co-investorsBonfire VenturesData TechLeverageVCA16Z SpeedrunBitGoFlowdesk+2 more
Blueprint offers an AI assistant for therapists and mental health practices that transcribes sessions, drafts clinical notes and treatment plans, and provides client summaries and guided interventions.
AI & Machine LearningDigital HealthMental Health
Danny Freed(Founder)in
Co-investorsBeringeaOperator CollectiveTau VenturesAndreessen HorowitzBitGoEnsemble VC+2 more
Botanix is a Bitcoin-based blockchain platform for applications focused on Bitcoin financialization.
Crypto & Web3New York, US
Willem Schroe(Executive Officer)
Co-investorsEdessa CapitalMetamatic GroupPlaceholder VCWeb3com Ventures
Houston, US
JASON CALEY-BRANNIGAN(Executive Officer)BRIAN BERMAN(Executive Officer)SAMUEL GREEN(Executive Officer, Director)
Co-investorsFlow TradersFranklin TempletonNomad CapitalPaper VenturesSelini Capital
Canza Finance builds a decentralized financial infrastructure using Web3 and DeFi, working with local money market players to distribute financial data and transaction-based services.
Crypto & Web3Fintech
Pascal Ntsama IV(Co-founder & CEO)Oyedeji Oluwoye(Co-founder & CMO)
Co-investorsAdaverseFenbushi CapitalFlori VenturesHyperithmMapleblock CapitalStratified Capital+3 more
San Francisco open-source software developer building DeFi tools and the Compound Protocol for crypto lending and borrowing.
San Francisco, US
Robert Leshner(Executive Officer, Director)Geoffrey Hayes(Director)
Co-investorsDragonflyMetastableAndreessen HorowitzBain Capital VenturesDanhua CapitalParadigm+1 more
Cubist develops cryptographic proof systems and tools for verifying software correctness and security, serving developers and organizations building secure systems.
Crypto & Web3CybersecurityDeveloper ToolsEnterprise Software
Riad(CEO)inAnn(COO)inFraserinDeianinRohanin
Co-investorsAmplify PartnersPROOFSymbolic CapitalVery Serious VenturesZero Knowledge Validator (ZKV)
DAWN is a decentralized broadband network that enables users to share internet capacity and operate as their own internet providers through a hardware node and protocol system.
Crypto & Web3
Co-investors6th Man VenturesAdvancit CapitalArchetypeEv3 Ventures LlcFlowdeskLattice Capital+3 more
DFINITY builds the Internet Computer, a decentralized cloud network that enables applications to run directly on the blockchain with persistent state, native HTTP serving, and built-in security without requiring external databases or a dedicated operations team.
AI & Machine LearningCloud ComputingCrypto & Web3Developer Tools
Dominic Williams(Founder)
Co-investorsa16z cryptoAcrew CapitalAmino CapitalAndreessen HorowitzAspect VenturesBollinger Investment Group+13 more
Open source DeFi protocol enabling users to seek high fixed yield income on the blockchain.
North Richland Hills, US
Jonathan Rhea(Chief Financial Officer and Secretary)William Shatswell Villanueva(President and Chief Executive Officer)
Co-investorsAdvanced Blockchain
Espresso Systems builds Ethereum infrastructure and blockchain systems with a focus on practical solutions for developers and users within the crypto ecosystem.
Cloud ComputingCrypto & Web3Data & InfrastructureDeveloper ToolsNew York, US
Ben Fisch(Chief Executive Officer)inCharles Lu(Chief Operating Officer)Benedikt Bünz(Chief Scientist)Jill Gunter(Chief Strategy Officer)Fernando Krell(VP Engineering)Ellie Davidson(Chief Product Officer)
Co-investorsa16z cryptoAlameda ResearchAndreessen HorowitzBlockchain CapitalCoinbase VenturesElectric Capital+8 more
Ethena operates a crypto protocol offering USDe, a digital dollar, and sUSDe, a reward-accruing asset backed by collateralized assets with third-party attestations.
Crypto & Web3Fintech
Guy Young(Founder & CEO)in
Co-investorsAlphaLab CapitalBitDAOBreedCaladanCVP NoLimitF-Prime Capital+17 more
Handshake is a decentralized, peer-to-peer naming and certificate authority protocol that serves as an alternative to centralized DNS systems and certificate authorities.
Crypto & Web3Data & InfrastructureDeveloper Tools
Joseph Poon(Co-Founder / Protocol Developer)Andrew Lee(Co-Founder)Christopher Jeffrey(Co-Founder / CTO)Tieshun Roquerre(CEO, Namebase (leading Handshake domain registrar/exchange))
BoardMike Duboe(Venture Partner, Greylock Partners (investor listed on Greylock's Handshake portfolio page))
Co-investorsa16z cryptoAmentum Investment ManagementAusum VenturesD1 VenturesDraper AssociatesFounders Fund+5 more
Hyperbolic provides on-demand, reserved, and private cloud access to high-performance GPUs (such as H100, H200, and B200) through a global network of compute providers.
AI & Machine LearningCloud ComputingData & Infrastructure
Co-investorsAmbush CapitalBig Brain HoldingsFactionGSRLongHash VenturesSamsung Next+4 more
The Internet Computer is a serverless "sovereign cloud" run by independent hardware operators, hosting tamperproof WebAssembly/Motoko software and multi-blockchain digital-asset APIs.
AI & Machine LearningCloud ComputingCrypto & Web3
Co-investorsDraft Ventures LlcAndreessen Horowitz
AI-powered sales training and coaching software that enables personalized learning, skills reinforcement, and seller effectiveness through interactive training, data-driven insights, and coaching playbooks.
AI & Machine LearningEnterprise SoftwareSaaSSales TechIndianapolis, US
John Maxwell Yoder(Executive Officer, Director)Conner Burt(Founder)inMichael Fitzgerald(Executive Officer, Director)in
BoardEric Tobias(Director)inKristian Andersen(Director)in
Co-investorsAllos VenturesElevate VenturesHigh AlphaJackson Square VenturesJMI EquityOpenView Venture Partners+6 more
Liquity is a decentralized finance protocol that enables borrowing against crypto collateral with minimal requirements.
Crypto & Web3Fintech
Robert Lauko(Founder)Rick Pardoe(Co-Founder & Lead Engineer)
Co-investors1k(x)1kxA.Capital VenturesIOSG VenturesLemniscapPantera Capital+3 more
M0 provides a modular platform for designing and deploying stablecoins, with configurable layers for token behavior, issuance, and partner integrations.
Crypto & Web3Fintech
Gregory Di Prisco(Founder)in
Co-investorsEarlybird Venture CapitalKraynos CapitalMouro CapitalPantera CapitalParaFi CapitalBain Capital Crypto+4 more
Manta Network is a modular Layer 2 blockchain platform offering low gas fees and high performance for building decentralized applications.
Crypto & Web3Data & InfrastructureDeveloper Tools
Co-investorsAdvanced BlockchainAlliance DAO (ex DeFi Alliance)AZDAGGenblock CapitalHypersphere VenturesLongHash Ventures+5 more
Maple is an onchain asset management platform offering institutional-grade lending and yield strategies to the crypto ecosystem.
Crypto & Web3Fintech
Joe Flanagan(Founder)in
Co-investorsArctic DigitalBlack DragonBloccelerate VCGSRMarin Digital VenturesMaven 11+4 more
Security and encryption platform for distributed systems.
San Francisco, US
MacLane Wilkison(Founder)
Co-investors1k(x)1kxAmino CapitalBase Venture Management, Inc.Ceras VenturesContinue Capital+2 more
Polychain is an investment firm that manages actively managed portfolios of blockchain-based digital assets, focusing on returns from the cryptocurrency sector.
Crypto & Web3
Olaf Carlson-Wee(Founder & CEO)in
Co-investorsA.Capital VenturesAbstract VenturesAndreessen HorowitzBollinger Investment GroupMirana VenturesMoonhill Capital+7 more
Polyhedra Network builds blockchain infrastructure for AI applications, including EXPchain, a chain for verifiability, data security, and performance of AI systems, and the ZKJ token for gas and governance.
AI & Machine LearningCrypto & Web3Data & Infrastructure
Co-investorsArcane GroupL2 Iterative Ventures (L2IV)LongHash VenturesMapleblock CapitalPuzzle VenturesRR2 Capital+7 more
Quasar provides a distributed database that keeps live data ingestion, deep historical storage, and heavy analytics on the same dataset, making new data queryable as it arrives without warehouse loading cycles.
Data & InfrastructureDeep TechEnterprise Software
Co-investorsNewfund CapitalTech Square VenturesBlockchain CapitalGalileoHash CIBLightshift Capital+1 more
Gaming studio building a AAA first-person extraction shooter
Ken Rosman(CEO)
Co-investorsBixin CapitalBixin VenturesCVP NoLimitDragonflyMetastableNo Limit Holdings (NLH)+7 more
Silhouette offers shielded onchain trading on the Hyperliquid network, using encryption to protect traders' order flow and strategies from exploitation while accessing HyperCore's orderbook liquidity.
Crypto & Web3Fintech
Chandler(Co-founder)Stenton(Co-founder)Aidan(Head of Engineering)
Co-investorsHivemind Capital PartnersProtagonistRockawayX6th Man VenturesAmber GroupHivemind Capital LLC
Solayer is a hardware-accelerated blockchain and financial platform that enables trading of crypto, equities, and commodities on a high-performance L1 blockchain, along with a crypto-native payment card for global spending.
Crypto & Web3Fintech
Co-investorsFOMO VenturesHack VCProtagonistBig Brain Holdings
StakeStone is a crypto-native neo bank offering self-custody accounts with yield-bearing balances, gasless transactions, and borderless payments across DeFi and CeFi venues.
AI & Machine LearningCrypto & Web3Fintech
Cheryl Liu(Founder)in
Co-investorsSymbolic CapitalBinance LabsOKX VenturesSevenX Ventures
Structure is a no-code platform for building, backtesting, and deploying automated crypto trading strategies on Web3, letting users describe a strategy in plain English and run it as a deterministic on-chain strategy.
AI & Machine LearningCrypto & Web3Fintech
Co-investorsContinue CapitalKane & Rao Group
Superform offers an onchain neobank application and SuperformOS, an operating system for crypto vaults.
Crypto & Web3FintechMiami, US
Alex Cort(Founder)
Co-investorsHypersphere VenturesMaven 11Node Capital
Vespene Energy is an energy development company that provides fully managed, end-to-end electricity solutions, including biogas-to-power projects that convert waste streams into electricity and behind-the-meter on-site generation.
CleantechClimate TechEnergy
Co-investorsNew Layer CapitalSTILLMARKVibe Capital
Exits · 2
IPOs and acquisitions across the tracked portfolio0x Labs Decentralized P2P tradingcrypto exchanges: ZRXLessonlyacq. by Seismic
Portfolio news
latest coverage across their companiesEthena Labs · interactivecrypto.com · Aug 21, 2026
Maple Finance · cryptonews.net · Aug 19, 2026
Hyperbolic · royalsocietypublishing.org · Aug 14, 2026
Espresso (Translucence Research Inc) · CoinDesk (via CoinMarketCap AI roundup) · Aug 10, 2026
0x Labs Decentralized P2P trading · 0x Labs Blog · Aug 4, 2026
DAWN · dawn.com · Jul 18, 2026
Frequently asked questions
- What stage does Polychain Capital invest at?
- Polychain Capital invests at the Pre-Seed, Seed stages.
- What is Polychain Capital's typical check size?
- Polychain Capital typically writes checks of $100K – $10M.
- What sectors does Polychain Capital focus on?
- Polychain Capital focuses on Crypto & Web3.
- Where is Polychain Capital located?
- Polychain Capital is headquartered in San Francisco, US.
- Does Polychain Capital lead rounds?
- Polychain Capital typically participates in rounds rather than leading them.
- Who does Polychain Capital co-invest with?
- Polychain Capital most often shares deals with Greylock Partners, a16z crypto, Blockchain Capital, among 35 tracked co-investors.
Media · Podcasts & interviews
featuring the teamThe Bull Case for Crypto in 2024 with Olaf Carlson-Wee of Polychain Capital | 2024 Upfront Summit
Upfront Ventures · Olaf Carlson-Wee
Why Polychain Capital Founder Never Sells His Crypto | Olaf Carlson-Wee
Empire · Olaf Carlson-Wee
Watch CNBC's full interview with Polychain Capital's Olaf Carlson-Wee
Olaf Carlson-Wee · cnbc.com
Balancing The Ledger: Polychain Capital's Olaf Carlson-Wee I Fortune
Fortune Magazine · Olaf Carlson-Wee
hack.summit("blockchain") 2018 - Olaf Carlson-Wee, Founder and CEO, Polychain Capital
Hack VC · Olaf Carlson-Wee
Olaf Carlson-Wee: Polychain Capital and the Rise of Protocol Tokens (Episode 173)
Epicenter Podcast · Olaf Carlson-Wee
Co-investors · 88
Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.
Pantera Capital is a blockchain and cryptocurrency-focused investment firm that pioneered early crypto funds in the U.S., offering exposure through venture equity, early-stage tokens, and liquid tokens.
Hack VC is a venture capital firm investing in early-stage crypto, blockchain infrastructure, decentralized finance, and AI companies.
Dragonfly is a crypto-focused investment firm comprising Dragonfly Ventures, Dragonfly Liquid, and Metastable, an early crypto hedge fund it acquired. It invests in and researches blockchain, tokens, and crypto companies.
IOSG Ventures is a research-driven investment fund focused on Web3, backing founders building blockchain infrastructure, middleware, security, and social/consumer applications.
Blockchain Capital is a venture firm that has partnered with crypto builders since 2013, investing across the blockchain and digital asset ecosystem.
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AMINO Capital is a global venture capital firm based in Palo Alto that invests around the theme of data moat and network effects, focusing on big data, machine learning, and exceptional products.
Sequoia Capital is a venture capital firm that partners with founders to build technology companies.
Founders Fund is a venture capital firm that backs technology companies building transformative products.
BCV Labs is the platform and hands-on support arm of Bain Capital Ventures, providing portfolio founders with go-to-market strategy, brand development, hiring assistance, and customer introductions.
Slow Ventures is a generalist early-stage venture capital firm founded in 2011, with offices in San Francisco, Boston, and New York, investing in the earliest rounds of companies across many sectors.
Abstract is a San Francisco-based venture capital firm managing $1.8 billion in assets, investing in seed and early-stage companies across all sectors.
▶76 more co-investors
ParadigmDivergenceGriffin Gaming PartnersBain Capital CryptoGeneral CatalystGV (Google Ventures)Lightspeed Venture PartnersAccelNew Enterprise Associates (NEA)Alumni VenturesFounder CollectiveNotable CapitalBenchmarkFelicis VenturesFJ LabsFirst Round CapitalKleiner PerkinsFoundation CapitalKrakenNorwest Venture PartnersDST GlobalGreat Oaks Venture CapitalStreamlined VenturesQuiet CapitalSusa VenturesFundersClubHCVCBling CapitalAME Cloud VenturesUpHonest CapitalC2 InvestmentsInnovation EndeavorsLux CapitalForerunner VenturesMadrona Venture GroupSoftBank Vision FundSouth Park CommonsBullpen CapitalGoodwater CapitalWingUncorrelated VenturesShasta VenturesWinklevoss CapitalBetaworks Ventures Management, Llc7percent VenturesSaga VenturesTenaya CapitalRenegade PartnersDraper Fisher Jurvetson (DFJ)Dreamers VCDigital Currency GroupDnx VenturesAnorak VenturesCoelius CapitalBlackbird VenturesLocus VenturesRecursive VenturesOyster VenturesHelium-3 VenturesHighbury HoldingsArtis VenturesJigsaw VCPrimitive VenturesCherubic VenturesMiramar Venture PartnersQuantstampPillar VCMysten LabsPage One VenturesBlockchange Venturesgumi Cryptos Capital (gCC)New Form CapitalWorld Innovation Lab (WiL)FirstMile VenturesIDEO CoLab VenturesSCOR Ventures
Firms observed investing alongside Polychain Capital, from public investor directories. Shared companies are the overlap with Polychain Capital's recorded portfolio.
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