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 Trading Platform

Yellow Card

Series B in 2022
Yellow Card Financial, LLC operates an online cryptocurrency trading platform that facilitates the buying and selling of Bitcoin and other cryptocurrencies without the need for a bank account. Founded in 2016 and headquartered in Chamblee, Georgia, the company offers a range of services including over-the-counter cryptocurrency trading, payment solutions, and currency exchange. Additionally, Yellow Card provides gift cards for cryptocurrency, aiming to transform the traditional remittance market in Nigeria and other countries. The company also has physical locations in Nigeria, Tanzania, Cameroon, Kenya, and South Africa, enhancing its accessibility for customers seeking to engage in cryptocurrency transactions.

Satori

Seed Round in 2022
Satori is an on-chain derivatives exchange built for both retail and institutional investors in the Polkadot ecosystem.

Gasp

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

CoinDCX

Series D in 2022
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2017 and is headquartered in Mumbai, Maharashtra, India.

Ponto

Seed Round in 2022
Developer of financial infrastructure platform designed to link global financial products to local economies. The company's software connects decentralized currency to the centralized world through cryptocurrency and mobile money in fast-growing markets, enabling users to access the local economy effortlessly.

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.

Structure

Seed Round in 2021
Structure operates a global trading platform designed to facilitate cryptocurrency investing and lending for mobile users. The platform caters to investors of all experience levels, providing a user-friendly and secure space for trading digital assets. It enables users to participate in decentralized finance (DeFi) and crypto markets, allowing them to earn, borrow, and lend. Structure offers round-the-clock access and hands-on support, ensuring seamless transactions and helping investors diversify their portfolios according to their investment objectives and risk tolerance.

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.

Spectral

Venture Round in 2021
Developer of an AI-powered platform designed to generate and deploy smart contracts. The company's platform enables developers to create complex smart contracts with ease by using natural language, accelerating development time, and reducing errors.

AscendEX

Series B in 2021
BitMax is global operator of digital asset exchanges for diverse groups of clients from retail to institutions.

AscendEX

Series B in 2021
Developer of a global digital asset trading platform designed to buy and sell cryptocurrencies. The company's platform provides facilities such as financial derivatives, cash, margin and later-stage leveraged trading on various tokens, enabling investors with liquidity provision, and growth opportunities within the cryptocurrency ecosystem.

Sommelier

Series A in 2021
Sommelier is a financial platform focused on decentralized finance (DeFi) that caters to traders and liquidity providers. It features a modular protocol, a bi-directional Ethereum bridge, and automated signature management, ensuring a secure environment through decentralized governance. The platform enables users to author and execute complex and automated financial transactions, such as portfolio rebalancing and limit orders. By providing these capabilities, Sommelier aims to bridge the gap between the functionalities offered by centralized finance and those available in the DeFi space, delivering a robust solution for modern financial transactions.

Yellow Card

Series A in 2021
Yellow Card Financial, LLC operates an online cryptocurrency trading platform that facilitates the buying and selling of Bitcoin and other cryptocurrencies without the need for a bank account. Founded in 2016 and headquartered in Chamblee, Georgia, the company offers a range of services including over-the-counter cryptocurrency trading, payment solutions, and currency exchange. Additionally, Yellow Card provides gift cards for cryptocurrency, aiming to transform the traditional remittance market in Nigeria and other countries. The company also has physical locations in Nigeria, Tanzania, Cameroon, Kenya, and South Africa, enhancing its accessibility for customers seeking to engage in cryptocurrency transactions.

Ava Labs

Initial Coin Offering in 2021
Ava Labs specializes in providing a platform for launching finance applications through blockchain technology. The company focuses on highly scalable and efficient networks, offering customizable public and private blockchains and enabling the creation of various digital assets. Its innovative approach includes a novel probabilistic consensus protocol that enhances transaction speed and reduces deployment costs. This technology simplifies the creation, trading, and discovery of both existing and new asset types. Ava Labs aims to empower individuals to participate in an open and accessible digital finance landscape.

Bluefin

Venture Round in 2021
dTrade is a decentralised trading platform for options and perpetuals contracts. It is built on a Polkadot Smart Contract Chain and is designed to function as a fully decentralized public utility owned and controlled by the community of token holders. dTrade was founded in 2020 and is headquartered in Toronto, Ontario.

CoinDCX

Series C in 2021
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2017 and is headquartered in Mumbai, Maharashtra, India.

Kresko

Seed Round in 2021
Developer of an online capital platform intended for synthetic stocks, commodities and crypto to make wealth accessible on a mobile phone. The company's platform offers novel synthetic asset protocol with a single customer data platform-per-account model which introduces novel improvements over existing solutions such as capital efficiency, better user experience, a frictionless listing of assets, and better risk management, enabling developers to easily integrate crypto assets into their apps and wallets.

CoinDCX

Series C in 2021
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2017 and is headquartered in Mumbai, Maharashtra, India.

Shipyard Software

Seed Round in 2021
Shipyard Software is a decentralized exchange for retail crypto traders. The company was founded in 2021 and is headquartered in San Francisco, California.

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.

t3rn

Seed Round in 2021
t3rn is a smart contract hosting platform that offers an innovative solution to interoperable smart contract execution. It offers circuit & gateways for blockchain projects, on-chain contract repository for developers, open execution platform, and more.

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.

ORIGYN Foundation

Venture Round in 2021
Developer of financial governance platform designed to provide security and transparency in exchanges. The company's platform leverages decentralized technologies, artificial intelligence, and machine learning to revolutionize the fight against counterfeiting, thereby helping its clients by authenticating objects of value instantly and on-device by ensembling a range of technologies.

Enso Finance

Venture Round in 2021
Enso Finance is a Defi tool for creating permissionless trading strategies. It’s hoping to make Defi more frictionless and accessible.

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.

Bluefin

Seed Round in 2021
dTrade is a decentralised trading platform for options and perpetuals contracts. It is built on a Polkadot Smart Contract Chain and is designed to function as a fully decentralized public utility owned and controlled by the community of token holders. dTrade was founded in 2020 and is headquartered in Toronto, Ontario.

Gasp

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

DFX Finance

Seed Round in 2021
DFX Finance is a new decentralized finance exchange protocol optimized for non-U.S. dollar stable coins.

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.

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.

Bluefin

Pre Seed Round in 2021
dTrade is a decentralised trading platform for options and perpetuals contracts. It is built on a Polkadot Smart Contract Chain and is designed to function as a fully decentralized public utility owned and controlled by the community of token holders. dTrade was founded in 2020 and is headquartered in Toronto, Ontario.

CoinDCX

Series B in 2020
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2017 and is headquartered in Mumbai, Maharashtra, India.

Acala Network

Series A in 2020
Acala Network is a decentralized finance hub that operates on a blockchain-based platform, facilitating cryptocurrency transactions across blockchains linked to the Polkadot network. The platform enables users to send and receive USD while providing a suite of financial tools, including a multi-collateralized stablecoin backed by various cross-chain assets, a trustless staking derivative, and a decentralized exchange. These features enhance liquidity and support the development of innovative financial applications. Acala Network is headquartered in the United States.

Yellow Card

Seed Round in 2020
Yellow Card Financial, LLC operates an online cryptocurrency trading platform that facilitates the buying and selling of Bitcoin and other cryptocurrencies without the need for a bank account. Founded in 2016 and headquartered in Chamblee, Georgia, the company offers a range of services including over-the-counter cryptocurrency trading, payment solutions, and currency exchange. Additionally, Yellow Card provides gift cards for cryptocurrency, aiming to transform the traditional remittance market in Nigeria and other countries. The company also has physical locations in Nigeria, Tanzania, Cameroon, Kenya, and South Africa, enhancing its accessibility for customers seeking to engage in cryptocurrency transactions.

KeeperDAO

Seed Round in 2020
KeeperDAO provides an efficient mechanism for large scale arbitrage and liquidation trades on all DeFi protocols. KeeperDAO can be used for capturing any on-chain opportunity on Ethereum. This could be liquidating a position in Compound or dYdX, taking over a Maker CDP, rebalancing a SET basket, or taking advantage of arbitrage between Kyber and Uniswap. By joining KeeperDAO, both Keepers and LPs benefit from economies of scale. LPs benefit from shared capital and profit, and Keepers benefit from incentivized collaboration (and hence reduced competition)

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.

CoinDCX

Series A in 2020
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2017 and is headquartered in Mumbai, Maharashtra, India.

Nuo

Seed Round in 2020
Nuo is a cryptocurrency platform founded in 2018 and based in Mumbai, India, with additional operations in Singapore. It provides a decentralized banking experience, allowing users to lend, borrow, or margin trade crypto assets without custody. The platform supports various cryptocurrencies, including ETH, DAI, and several ERC20 tokens, enabling users to borrow assets by staking collateral and earn interest through debt reserves. Nuo's features include fully collateralized loans, custom interest rates, and secure transaction processes. Users can manage their cryptocurrencies, make payments globally using the Nuo Card, and engage in peer-to-peer transfers via the Nuo Network, all while accessing a range of financial products and services.

Acala Network

Seed Round in 2020
Acala Network is a decentralized finance hub that operates on a blockchain-based platform, facilitating cryptocurrency transactions across blockchains linked to the Polkadot network. The platform enables users to send and receive USD while providing a suite of financial tools, including a multi-collateralized stablecoin backed by various cross-chain assets, a trustless staking derivative, and a decentralized exchange. These features enhance liquidity and support the development of innovative financial applications. Acala Network is headquartered in the United States.

CoinDCX

Series A in 2020
CoinDCX is a company that specializes in crypto-enabled financial services. The company focuses on developing borderless financial services that ensure a simpler and uninterrupted flow of capital. Its liquidity, powerful wallet, and impenetrable security make the trading experience fast, reliable, and effortless. CoinDCX has empowered its traders with a bouquet of industry-first products to trade using liquidity from exchanges. The products are designed for all types of traders keeping their trading experience, risk tolerance, and trading frequency into consideration. The company aims to democratize finance and make investments accessible to everyone. CoinDCX was founded in 2017 and is headquartered in Mumbai, Maharashtra, India.

StakerDAO

Series A in 2020
StakerDao, Inc. develops platform for governing financial assets in a decentralized, secure, and compliant manner. The company builds and manages products for on-chain governance, cross-chain synthetics, and tokenized real-world assets. It offers STKR that governs financial asset decision making and BLND, a synthetic token that tracks a governed basket of proof-of-stakes tokens. StakerDao, Inc. was founded in 2019 and is based in Palo Alto, California.

Amber Group

Series A in 2020
Amber Group is a prominent cryptocurrency financial services provider headquartered in Hong Kong, established in 2017 by finance professionals with backgrounds from major institutions. The company facilitates the buying and selling of cryptocurrency products and offers a range of services including yield enhancement, collateralized lending, decentralized finance, execution services, and electronic market making. Operating globally, Amber Group serves over 200 institutional clients, engaging in significant trading activity across numerous electronic exchanges with an average daily trading volume between $100 million and $200 million. The firm is dedicated to optimizing investment flexibility and maximizing returns for its clients by leveraging advanced technology and quantitative research, thereby enhancing the overall crypto finance experience. In 2019, Amber Group secured $28 million in a Series A funding round, attracting investment from notable players in the cryptocurrency sector.

Matrixport

Venture Round in 2019
Matrixport is a comprehensive platform that facilitates the trading, custody, investment, and borrowing of cryptocurrency assets. Headquartered in Singapore, the company leverages advanced technology and industry expertise to provide a range of services, including digital currency trading, institutional custody, and cryptocurrency lending. Matrixport's mission is to foster a more open and equitable financial system by utilizing blockchain technologies. With a focus on client empowerment, the platform aims to offer innovative financial products to users worldwide, thereby enabling them to take control of their finances and capital.

StakerDAO

Seed Round in 2019
StakerDao, Inc. develops platform for governing financial assets in a decentralized, secure, and compliant manner. The company builds and manages products for on-chain governance, cross-chain synthetics, and tokenized real-world assets. It offers STKR that governs financial asset decision making and BLND, a synthetic token that tracks a governed basket of proof-of-stakes tokens. StakerDao, Inc. was founded in 2019 and is based in Palo Alto, California.

CoinFLEX

Venture Round in 2019
CoinFLEX (Coin Futures and Lending Exchange) is the world's first physically delivered cryptocurrency futures exchange.

Altonomy

Seed Round in 2019
Altonomy Pte. Ltd. is a Singapore-based firm that specializes in cryptocurrency and digital assets, offering a comprehensive range of services, including over-the-counter (OTC) trading, advisory, and asset management. Established in 2018, the company features a dedicated sell-side trading desk that provides institutional-grade liquidity solutions, enabling investors to engage in both crypto-to-fiat and crypto-to-crypto transactions. Altonomy's platform facilitates the management of digital assets, allowing seamless movement of funds between exchanges, wallets, and counterparties. The firm also supports aspiring token issuers and cryptocurrency exchanges with liquidity management and public listing requirements. In addition, Altonomy offers a cloud-based mining product, AltMiner, tailored for institutions and accredited investors seeking exposure to bitcoin without the overhead costs associated with direct mining ownership. With a strong network of partnerships across the crypto industry, Altonomy aims to legitimize the crypto asset class for institutional investors and provide them with investment opportunities that are uncorrelated with traditional financial markets.

CoinFLEX

Seed Round in 2019
CoinFLEX (Coin Futures and Lending Exchange) is the world's first physically delivered cryptocurrency futures exchange.

Ava Labs

Series A in 2019
Ava Labs specializes in providing a platform for launching finance applications through blockchain technology. The company focuses on highly scalable and efficient networks, offering customizable public and private blockchains and enabling the creation of various digital assets. Its innovative approach includes a novel probabilistic consensus protocol that enhances transaction speed and reduces deployment costs. This technology simplifies the creation, trading, and discovery of both existing and new asset types. Ava Labs aims to empower individuals to participate in an open and accessible digital finance landscape.

Coinbase

Series E in 2018
Coinbase, Inc. is an online platform that enables merchants, consumers, and traders to buy, sell, and store digital currencies, including Bitcoin, Ethereum, and Litecoin. Founded in 2012 and based in San Francisco, California, Coinbase provides various products and services, such as a user-friendly website for transactions, digital wallets, and merchant payment processing tools. The platform allows users to connect their bank accounts to facilitate the buying and selling of cryptocurrencies. Additionally, Coinbase Ventures serves as the company's investment arm, focusing on early-stage startups in the cryptocurrency and blockchain sectors. With a mission to create an open financial system for the world, Coinbase has positioned itself as a significant player in the digital currency market.

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.

Token Daily

Series A in 2018
Token Daily Inc. is a San Francisco-based company that operates an online news publishing platform focused on the cryptocurrency and blockchain sectors. Established in 2017, the platform offers comprehensive coverage of daily news related to crypto investments, blockchain innovations, and the digital coin trading market. By delivering timely updates and insights, Token Daily aims to keep clients and traders informed about the latest trends and developments in the rapidly evolving world of digital assets.

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.
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