Polychain Capital

Polychain Capital, founded in 2016 and based in San Francisco, is a venture capital firm that focuses on investing in blockchain technologies and digital assets. The firm is dedicated to advancing the global adoption of cryptocurrencies by actively managing portfolios that include various blockchain-based protocols and companies. As a Registered Investment Adviser, Polychain Capital aims to generate exceptional returns for its investors by leveraging the unique properties of digital assets, which are created and transmitted through cryptographic verification and game-theoretic principles.

Bobby Beniers

Research Partner

Kevin Ding

Seed Investor

Ben Perszyk

Partner

Josh Rosenthal

Partner and Portfolio Manager

Alexa Smith

Beacon Fund Manager

Jing Sun

LP Investor

Dovey Wan

Investor

Sven Wellmann

Research Analyst

Past deals in Developer Tools

Fluent Labs

Seed Round in 2025
Fluent Labs is a blockchain development company. It aims to simplify blockchain development and enhance compatibility across different virtual machines.

Story Protocol

Series B in 2024
Story Protocol is a web3 technology developer focused on transforming the creation of narrative universes. The company provides a platform that allows creators to develop, govern, and license intellectual property on-chain, fostering ownership and motivation. By enabling the construction of an ecosystem of story components that can be remixed and composed, Story Protocol empowers creators to build narratives with clear incentives and control over their intellectual property.

Squid

Series A in 2024
Squid is a financial software developer that creates a routing protocol facilitating cross-chain liquidity in the cryptocurrency market. Its platform enables users and developers to swap tokens seamlessly between different blockchains and access decentralized applications with ease. By utilizing an application programming interface and a software development kit, Squid allows for native token swaps and messaging across various chains with minimal coding requirements. This functionality empowers investors to engage with composable, cross-chain financial logic, enhancing their experience in the evolving crypto ecosystem.

Cubist

Seed Round in 2023
Cubist is a developer of a web3 key management platform that aims to enhance the safety and efficiency of building decentralized applications (dapps). Its modular toolkit allows users to swiftly create, test, and deploy multi-chain and cross-chain dapps through automated pipelines that manage keys and sequencing. By integrating modern software engineering practices with robust security measures, Cubist facilitates the development of secure cross-chain applications from a single program, catering to the needs of web3 builders.

Fleek

Series A in 2022
Fleek is an open web platform that installs anything on a computer or deals with the command line. The platform is helping to build the tools necessary to make the Open Web available to anyone, and easy to build on. It makes it easy to build websites and apps on the new open web: permissionless, trustless, censorship-resistant, and free of centralized gatekeepers. Using Open Web protocols that make a decentralized, trustless, and permissionless infrastructure native to the web. This stack is ever-shifting and open-source.

MatchboxDAO

Seed Round in 2022
MatchboxDAO operates a gaming platform focused on developing the infrastructure for on-chain games. The company provides essential developer tools, infrastructure, and open-source primitives that facilitate the creation and deployment of fully on-chain games. By offering these resources, MatchboxDAO aims to simplify the process for developers, allowing them to easily access and utilize the necessary components to build innovative gaming experiences. Additionally, the organization is actively engaged in fostering a collaborative environment, as evidenced by its initiative to host a virtual hackathon aimed at encouraging the development of tools on the Starknet network.

Veridise

Funding Round in 2022
Veridise is a blockchain security company that specializes in identifying and addressing vulnerabilities in various blockchain applications. Founded by a team of experienced researchers, Veridise is renowned for its expertise in auditing Zero-Knowledge Circuits, MetaMask Snaps, smart contracts, and various decentralized finance protocols. The firm employs a hybrid approach that combines traditional auditing methods with automated Web3 security tools, enabling it to uncover critical vulnerabilities that other firms may overlook. In the first half of 2023, Veridise identified over 100 high-severity bugs, demonstrating its effectiveness in enhancing blockchain security. The company also offers a comprehensive platform for automatically auditing smart contracts, allowing clients to implement formal methods for improved security and correctness in their blockchain projects.

Gauntlet

Series B in 2022
Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.

Axelar

Series B in 2022
Axelar is a company focused on developing interoperability software that facilitates communication between various blockchain ecosystems and applications. Founded in 2020 by Sergey Gorbunov and Georgios Vlachos, Axelar Network offers a suite of protocols, tools, and APIs aimed at overcoming the challenges of cross-chain interactions. The company's solutions leverage Byzantine consensus, cryptography, and mechanism design to enable decentralized applications to operate across different blockchains seamlessly. By providing developers with the necessary resources, Axelar empowers them to select the most suitable platforms while enhancing cross-chain composability and liquidity.

Axelar

Series A in 2021
Axelar is a company focused on developing interoperability software that facilitates communication between various blockchain ecosystems and applications. Founded in 2020 by Sergey Gorbunov and Georgios Vlachos, Axelar Network offers a suite of protocols, tools, and APIs aimed at overcoming the challenges of cross-chain interactions. The company's solutions leverage Byzantine consensus, cryptography, and mechanism design to enable decentralized applications to operate across different blockchains seamlessly. By providing developers with the necessary resources, Axelar empowers them to select the most suitable platforms while enhancing cross-chain composability and liquidity.

Gauntlet

Series A in 2021
Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.

Aleo

Venture Round in 2021
Aleo provides a platform for building fully private applications using zero-knowledge technology. It offers a comprehensive toolkit that includes an application runtime environment, allowing software to compile, execute, and finalize its state autonomously. Aleo also supports a statically-typed programming language called Leo, designed specifically for private application development on the Aleo blockchain. The company engages its community through blogs and incentive programs to test the bounds of its decentralized technology.

Horizon Blockchain Games

Seed Round in 2020
Horizon Blockchain Games Inc. is a game studio and blockchain infrastructure company founded in 2017 and headquartered in Toronto, Canada, with additional offices in Montreal, Vancouver, Seattle, Mexico City, and Madrid. The company specializes in developing video games that leverage blockchain technology, providing users with secure access to web3, enabling digital asset ownership. Among its notable offerings are Arcadeum, a video game network and wallet built on the Ethereum blockchain, and SkyWeaver, an online card game. Horizon Blockchain Games also offers tools and resources for developers to create innovative Internet economies and experiences, positioning itself at the intersection of gaming and blockchain technology.

Urkel

Seed Round in 2019
Urkel is a software company focused on creating compliant infrastructure to enhance transparency and usability within the blockchain ecosystem. It offers a mining platform that includes a cryptocurrency multi-pool and a Bitcoin mining pool, along with blockchain APIs tailored for developers. This approach allows developers to bypass the need for deploying nodes they own while enabling miners to effectively manage their pools and accurately track the rewards earned. Through its innovative tools, Urkel aims to streamline the mining process and foster greater accessibility in the blockchain space.

Horizon Blockchain Games

Seed Round in 2019
Horizon Blockchain Games Inc. is a game studio and blockchain infrastructure company founded in 2017 and headquartered in Toronto, Canada, with additional offices in Montreal, Vancouver, Seattle, Mexico City, and Madrid. The company specializes in developing video games that leverage blockchain technology, providing users with secure access to web3, enabling digital asset ownership. Among its notable offerings are Arcadeum, a video game network and wallet built on the Ethereum blockchain, and SkyWeaver, an online card game. Horizon Blockchain Games also offers tools and resources for developers to create innovative Internet economies and experiences, positioning itself at the intersection of gaming and blockchain technology.

Gauntlet

Seed Round in 2018
Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.

Agoric

Seed Round in 2018
Agoric is a developer of a framework designed to enhance the programming of smart contracts for the blockchain ecosystem. The platform facilitates the creation and deployment of smart contracts using JavaScript, making it accessible to millions of programmers. By emphasizing composability, Agoric enables rapid development and offers a competitive advantage in creating decentralized applications. Its framework allows for secure execution of transactions, the establishment of new markets, and the creation of innovative exchange patterns without centralized control. The Agoric team comprises experienced technologists, economists, and business leaders who have collaborated on smart contracts technology for over three decades. They aim to revolutionize how smart contracts are developed and utilized, fostering unprecedented global cooperation and enabling entrepreneurs to explore new business opportunities with digital assets. Agoric has partnered with notable projects within the blockchain space and received support from various investors, further solidifying its mission to advance smart contract technology.

Agoric

Agoric is a developer of a framework designed to enhance the programming of smart contracts for the blockchain ecosystem. The platform facilitates the creation and deployment of smart contracts using JavaScript, making it accessible to millions of programmers. By emphasizing composability, Agoric enables rapid development and offers a competitive advantage in creating decentralized applications. Its framework allows for secure execution of transactions, the establishment of new markets, and the creation of innovative exchange patterns without centralized control. The Agoric team comprises experienced technologists, economists, and business leaders who have collaborated on smart contracts technology for over three decades. They aim to revolutionize how smart contracts are developed and utilized, fostering unprecedented global cooperation and enabling entrepreneurs to explore new business opportunities with digital assets. Agoric has partnered with notable projects within the blockchain space and received support from various investors, further solidifying its mission to advance smart contract technology.

Gauntlet

Gauntlet is a developer of a financial modeling and simulation platform aimed at enhancing the safety and efficiency of blockchain protocols and smart contracts. The company's platform utilizes agent-based simulation to analyze and optimize key parameters of various protocols, which helps improve capital efficiency, fees, risk management, and incentive structures. By modeling market risk and economic incentives, Gauntlet enables clients to maximize their returns while minimizing potential risks. Its applied research and optimization teams focus on driving sustainable growth for leading crypto protocols, chains, and on-chain treasuries, ultimately enhancing financial performance for businesses in the blockchain ecosystem.
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