Polychain Capital's holdings dips well below $1B mark

Polychain Capital saw its assets under management drop to $591.5 million in Q4 2018 from its $1 billion peak, the Wall Street Journal reported.

The paper cited sources who say the decline is due to a fall "in the value of its holdings" due to the bear market "rather than [] redemptions by investors." It added that while the San Francisco hedge fund saw a 39% dip between April and December, this paled in comparison to the estimated 70% drop throughout the crypto market over the same timeframe.

In December of last year, The Block reported that Ryan Zurrer, a founding principal of Polychain Capital was fired. Following his departure, Zurrer has chosen to advise firms, including Polkadot, a Polychain-backed blockchain project.

A Polychain spokesperson declined to comment.

About Author

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.