Polychain Capital

Polychain Capital, founded in 2016 and based in San Francisco, is a venture capital firm focused on investing in blockchain technologies and digital assets. The firm actively manages portfolios that encompass various blockchain assets, aiming to deliver exceptional returns for its investors. By investing in protocols and companies within the blockchain space, Polychain seeks to promote the global adoption of cryptocurrencies. As a Registered Investment Adviser, the firm utilizes a strategic approach to capitalize on the unique properties of blockchain technology, which allows for the creation, issuance, and transmission of digital assets through cryptographic verification and game-theoretic principles.

Bobby Beniers

Partner

Jeffrey Maganis

Investor

Niraj Pant

General Partner

Ben Perszyk

Partner

Josh Rosenthal

Partner and Portfolio Manager

Alexa Smith

Beacon Fund Manager

Michael Waldmann

Investor

Past deals in Peer to Peer

Aurigami

Funding Round in 2022
Aurigami Company is a decentralized, non-custodial liquidity protocol. Customers may easily lend, borrow, and earn interest with their digital assets according to this. In exchange for passive income, depositors offer liquidity to the protocol, which allows users to borrow money with excessive collateral. Aurigami, in contrast to similar protocols, places a strong emphasis on gamification. Depositors contribute liquidity to the protocol in order to earn a passive income, whereas borrowers can borrow in an over-collateralized fashion.

Gasp

Venture Round in 2022
cross-chain decentralized exchange built on Polkadot

Allora Labs

Series A in 2022
Upshot is a blockchain-based protocol that incentivizes experts to answer subjective questions honestly and captures the value of truth. Its first product aims to provide an efficient price-discovery mechanism for NFTs by paying experts for honest appraisals unlocking new opportunities for experts and enabling a number of powerful new DeFi primitives.

Axelar

Series B in 2022
Developer of a decentralized interoperability software designed to connect blockchain ecosystems and applications with users. The company's software is powered by byzantine consensus, cryptography, and mechanism design protocols that let applications live on different blockchains to communicate with each other, enabling users to get a distributed network, APIs, and tools to make it easy to build cross-chain decentralized applications.

Astar Network

Venture Round in 2022
Plasm Network is a multi-virtual machine scalable smart contract platform on Polkadot supporting cutting edge layer 2 like Rollups.

BBS Network

Seed Round in 2021
BBS Network is a blockchain-based platform that facilitates content sharing through a bulletin board system, enabling users to create forums for posting, commenting, and sharing ideas. The platform rewards creators, curators, and other participants in its ecosystem by distributing revenue generated from content in a fully automated and transparent manner. Users can generate income by creating, buying, selling, and monetizing ad space on their posts, fostering a community-driven environment where all stakeholders benefit from their contributions.

Anoma

Series A in 2021
Developer of a blockchain protocol designed to facilitate private and asset-agnostic cash. The company's protocol handles the cryptocurrency exchange automatically and at the market rate with private bartering among any number of parties, enabling users to transact and trade in cryptocurrency securely and privately.

Saddle

Series A in 2021
Saddle Finance operates an automated market maker (AMM) platform specifically designed for trading pegged value crypto assets. Its innovative financial trading platform facilitates trading and earning opportunities with these assets by utilizing a tokenized bitcoin pool. This approach enhances on-chain liquidity, allowing traders to execute transactions with minimal slippage and reduced transaction fees. By focusing on the unique requirements of pegged value assets, Saddle Finance aims to provide an efficient and cost-effective trading experience for its users.

Solend

Seed Round in 2021
Developer of decentralized protocol designed for lending and borrowing. The company improves capital efficiency by earning yields on idle funds and empowers a large range of DeFi yield strategies, enabling users to earn interest on deposits and borrow assets.

BitClout

Initial Coin Offering in 2021
BitClout is an open-source social media platform that builds a Proof-of-Work blockchain for its users. BitClout is a new type of social network that speculates on people and posts with real money, and it’s built from the ground up as its own custom blockchain. Its architecture is similar to Bitcoin, only it can support complex social network data like posts, profiles, follows, speculation features, and much more at significantly higher throughput and scale.

Parallel Finance

Series A in 2021
Parallel Finance is a decentralized finance (DeFi) protocol that offers lending and staking services.

Nym

Series A in 2021
Nym Technologies SA, based in Neuchâtel, Switzerland, specializes in creating a private Internet infrastructure that enhances user privacy and prevents data leakage. The company develops an anonymous overlay network and privacy infrastructure that employs anonymous authentication credentials, allowing for secure and privacy-focused data transfers. This innovative network supports various applications, including cryptocurrency wallets and mobile applications, by concealing users' IP addresses and personal data from external observers. By integrating advanced privacy measures, Nym strives to provide users with robust network-level anonymity and protect sensitive information in an increasingly data-driven world.

Axelar

Series A in 2021
Developer of a decentralized interoperability software designed to connect blockchain ecosystems and applications with users. The company's software is powered by byzantine consensus, cryptography, and mechanism design protocols that let applications live on different blockchains to communicate with each other, enabling users to get a distributed network, APIs, and tools to make it easy to build cross-chain decentralized applications.

SynFutures

Series A in 2021
SynFutures operates a decentralized derivatives platform that facilitates the trading of synthetic assets, allowing users to create and trade various digital asset pairs using a single digital token as margin. The platform aims to establish an open and trustless derivatives market by enabling trading on any asset with a price feed. By promoting a free market environment and increasing the diversity of tradable assets, SynFutures seeks to lower the barriers to entry in the derivatives market, thereby fostering a more equitable exchange for digital assets.

Umee

Seed Round in 2021
Umee is a decentralized infrastructure for cross-chain interactions between networks.

dYdX

Series C in 2021
dYdX Trading Inc. operates a cryptocurrency exchange and trading platform that focuses on derivatives for crypto assets, utilizing the Ethereum blockchain and the 0x protocol. Founded in 2017 and based in San Francisco, the platform enables users to engage in peer-to-peer short selling, long positions, and options trading on ERC20 tokens. It also allows for fully collateralized loans, providing essential funding for short sellers. Users can earn interest on their deposits or take out loans for a nominal fee, as well as trade on margin with customizable leverage. dYdX aims to create an open financial system that grants access to powerful financial tools for individuals worldwide.

Parallel Finance

Seed Round in 2021
Parallel Finance is a decentralized finance (DeFi) protocol that offers lending and staking services.

BitClout

Funding Round in 2021
BitClout is an open-source social media platform that builds a Proof-of-Work blockchain for its users. BitClout is a new type of social network that speculates on people and posts with real money, and it’s built from the ground up as its own custom blockchain. Its architecture is similar to Bitcoin, only it can support complex social network data like posts, profiles, follows, speculation features, and much more at significantly higher throughput and scale.

Connext

Seed Round in 2021
Connext, Inc. is a San Francisco-based company founded in 2017 that develops software enabling users to purchase and manage blockchain applications. It offers a platform for peer-to-peer micropayments, leveraging the Ethereum blockchain to facilitate instant and low-cost transfers globally. Connext's modular interoperability protocol enhances liquidity settlement across various blockchain networks, allowing for secure cross-chain applications that enable efficient fund and data transfers. The company's innovative features include direct card purchases for token acquisition, decentralized compliance, and walletless signature capabilities, aimed at empowering individuals by transforming finance through decentralized systems.

Overlay Foundation

Seed Round in 2021
Overlay is a protocol that enables users to trade streaming data without the need for traditional counterparties. The company was founded in 2018 and is headquartered in Pacific Palisades, California, United States.

Gasp

Seed Round in 2021
cross-chain decentralized exchange built on Polkadot

P0x Labs

Seed Round in 2021
P0x labs is the team behind Manta Network is a privacy-preserving technology operating on the Polkadot blockchain.

Anoma

Funding Round in 2021
Developer of a blockchain protocol designed to facilitate private and asset-agnostic cash. The company's protocol handles the cryptocurrency exchange automatically and at the market rate with private bartering among any number of parties, enabling users to transact and trade in cryptocurrency securely and privately.

Parsec Finance

Seed Round in 2021
Parsec Finance is a decentralized finance (DeFi) and analytics platform established in 2020 by Will Sheehan, located in Concord, Massachusetts. The platform aims to deliver an experience akin to that of a professional brokerage account, but without the complexities associated with custody. Parsec Finance provides real-time data and insights through a comprehensive suite of tools, including charting, portfolio management, and risk assessment features. Additionally, it offers access to on-chain data and relevant news articles, empowering users to gain a deeper understanding of the DeFi market and make informed trading decisions. The platform targets traders and data-focused individuals looking for efficient and user-friendly resources in the evolving DeFi landscape.

dYdX

Series B in 2021
dYdX Trading Inc. operates a cryptocurrency exchange and trading platform that focuses on derivatives for crypto assets, utilizing the Ethereum blockchain and the 0x protocol. Founded in 2017 and based in San Francisco, the platform enables users to engage in peer-to-peer short selling, long positions, and options trading on ERC20 tokens. It also allows for fully collateralized loans, providing essential funding for short sellers. Users can earn interest on their deposits or take out loans for a nominal fee, as well as trade on margin with customizable leverage. dYdX aims to create an open financial system that grants access to powerful financial tools for individuals worldwide.

Saddle

Seed Round in 2021
Saddle Finance operates an automated market maker (AMM) platform specifically designed for trading pegged value crypto assets. Its innovative financial trading platform facilitates trading and earning opportunities with these assets by utilizing a tokenized bitcoin pool. This approach enhances on-chain liquidity, allowing traders to execute transactions with minimal slippage and reduced transaction fees. By focusing on the unique requirements of pegged value assets, Saddle Finance aims to provide an efficient and cost-effective trading experience for its users.

DerivaDEX

Seed Round in 2020
Developer of a community-governed derivatives exchange intended to unite performance and autonomy. The company develops an ethereum-based exchange that uses a liquidity-mining token model along with open order book and on-chain settlements for the trades, enabling traders to participate in the governance and operations of the exchange.

dYdX

Series A in 2018
dYdX Trading Inc. operates a cryptocurrency exchange and trading platform that focuses on derivatives for crypto assets, utilizing the Ethereum blockchain and the 0x protocol. Founded in 2017 and based in San Francisco, the platform enables users to engage in peer-to-peer short selling, long positions, and options trading on ERC20 tokens. It also allows for fully collateralized loans, providing essential funding for short sellers. Users can earn interest on their deposits or take out loans for a nominal fee, as well as trade on margin with customizable leverage. dYdX aims to create an open financial system that grants access to powerful financial tools for individuals worldwide.

Paradigm

Seed Round in 2018
Paradigm Foundation designs and develops a decentralized relay protocol for smart contract based financial primitives. The company's platform allows exchanges and traders to gain access to a liquidity pool. Its platform provides interfaces and libraries for developers to implement smart contract based financial primitives. such as spot exchange, derivatives, and loans. The company was founded in 2018 and is based in San Francisco, California.

Spacemesh

Venture Round in 2018
Spacemesh is a company based in North Pole, Alaska, that has developed a blockmesh operating system aimed at creating a decentralized and secure platform for running smart contracts on a global scale. This system operates using a novel consensus protocol that eliminates the need for traditional proof-of-work mechanisms, promoting a more equitable and incentive-compatible environment. Spacemesh enables individuals worldwide to participate in its network by running the software on their personal computers, fostering a highly decentralized peer-to-peer blockchain computer. As a free and open-source platform, Spacemesh aspires to establish itself as a fundamental Internet protocol for blockchain computation.

Haja Networks

Venture Round in 2018
Haja Networks Oy, founded in 2018 and based in Kempele, Finland, focuses on developing foundational technologies for a decentralized Internet. The company is known for its work on OrbitDB, a scalable and trustless peer-to-peer database, along with database protocols aimed at creating a global data layer that promotes the re-decentralization of the web. Haja Networks prioritizes open-source development, transparency, and diversity, allowing for interoperability among various structured data sources. Their technologies enable a marketplace for decentralized database services, helping providers monetize their software while offering businesses and users straightforward access to essential services and control over their data.

Keep

Venture Round in 2018
Keep Network, founded in 2017 and headquartered in George Town, Cayman Islands, specializes in blockchain technology that bridges public blockchains and private data. The company offers an off-chain container that allows users to store private information securely on public blockchains while maintaining privacy. Its technology employs a privacy layer for Ethereum, utilizing secure multiparty computation to distribute data across multiple locations. This innovative approach features decentralized signing, supports the creation of cryptocurrency wallets, and enables the sale of digital goods, providing users with a robust solution for private file storage through blockchain encryption.

Ren

Initial Coin Offering in 2018
Ren operates as an open protocol designed to facilitate the transfer of value between different blockchains, thereby enhancing interoperability within decentralized finance (DeFi). Its primary offering, RenVM, allows for seamless transactions across various cryptocurrency ecosystems. The protocol is particularly notable for enabling users to conduct atomic swaps between cryptocurrency pairs securely, without disclosing the price or volume of those orders. Founded in 2007 and headquartered in Singapore, Ren aims to address the challenges of cross-chain asset movement, contributing to a more integrated and efficient DeFi landscape.

dYdX

Seed Round in 2017
dYdX Trading Inc. operates a cryptocurrency exchange and trading platform that focuses on derivatives for crypto assets, utilizing the Ethereum blockchain and the 0x protocol. Founded in 2017 and based in San Francisco, the platform enables users to engage in peer-to-peer short selling, long positions, and options trading on ERC20 tokens. It also allows for fully collateralized loans, providing essential funding for short sellers. Users can earn interest on their deposits or take out loans for a nominal fee, as well as trade on margin with customizable leverage. dYdX aims to create an open financial system that grants access to powerful financial tools for individuals worldwide.

Raiden

Initial Coin Offering in 2017
Raiden is a company that provides the Raiden Network, an off-chain scaling solution designed for efficient ERC20-compliant token transfers on the Ethereum blockchain. This network utilizes bidirectional token payment channels to facilitate direct connections between participants, enabling near-instant, scalable, and secure token transfers. By employing a protocol that relays token transactions through various channels, Raiden optimizes the natural topology of the channel network. The Raiden Network is designed to offer low-fee payments, making it a complementary solution to the Ethereum ecosystem. The project is still under development, focusing on researching state channel technology and defining relevant protocols to enhance its offerings. Raiden is headquartered in the United States.

Polkadot

Initial Coin Offering in 2017
Polkadot is a protocol that allows independent blockchains to exchange information. Polkadot is an inter-chain blockchain protocol which unlike internet messaging protocols (e.g. TCP/IP) also enforces the order and the validitiy of the messages between the chains. This interoperability also allows the additional benefit of scalability by creating a general environment for multiple state machines.

Polkadot

Initial Coin Offering in 2017
Polkadot is a protocol that allows independent blockchains to exchange information. Polkadot is an inter-chain blockchain protocol which unlike internet messaging protocols (e.g. TCP/IP) also enforces the order and the validitiy of the messages between the chains. This interoperability also allows the additional benefit of scalability by creating a general environment for multiple state machines.
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