Polychain Capital raises $200 million for fourth fund: Fortune

Companies • July 18, 2023, 12:59PM EDT
Published 1 minute earlier on
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Quick Take

  • Polychain Capital has raised half of a planned $400 million investment fund, Fortune reported.
  • The firm also cut three research members due to differing investment priorities. 

Web3 investment firm Polychain Capital has raised $200 million in the "first close" of its fourth investment fund, Fortune reported. 

The firm still plans to raise $400 million for the fund.

The firm also cut three of its research members due to new investing priorities, according to the report. Polychain declined comment to the publication. 

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The Block first reported news of the fourth fund in March.


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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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