Polychain Capital raises $175 million for venture fund amid bear market

Polychain Capital, the cryptocurrency investing firm, raised $175 million for their first venture capital fund, according to Axios. News of the fund first broke in January. As per Axios, the firm will continue to invest in cryptos and other digital currencies via its hedge fund, whereas the venture fund will make equity investments in startup companies in the space. Elsewhere, Pantera is getting close to raising $175 million for its own venture fund. “We raised two-thirds of the $175 millionin the first close, and plan to hold a final closing in Q1 of 2019,” Pantera said in an investor letter.