Big Money Bets on Bitcoin (BTC) and Blockchain As $200,000,000 Crypto Venture Fund Takes Off

Blockchain innovators are drawing in rounds of venture capitalists who are betting big on cryptocurrencies and the rise of digital assets. Ratcheting up support for crypto-based startups, a flurry of high-profile investments from big players, such as Polychain Capital, Pantera and Peter Thiel are establishing the sector as a hot target.

While blockchain remains the most coveted skillset on the planet, developers worldwide are focusing on building sophisticated infrastructure and onramps that will give users an easy way to adopt digital assets such as Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and stablecoins, as well as introduce people to emerging platforms that use digital tokens for customer loyalty points and rewards.

Big Money Bets on Bitcoin (BTC) and Blockchain As $200,000,000 Crypto Venture Fund Takes Off
Crypto Venture Fund

Enter Polychain Capital. According to an investor slide deck, the crypto investment firm is gearing up for its second crypto venture capital fund, reports CoinDesk.

The company plans to raise $200 million through minimum investments of $1 million to launch a fund for crypto startups – with 40% of investments supporting existing blockchain tech and 60% targeting new solutions.

Polychain Capital counts among its co-investors a solid list of Silicon Valley and New York venture capitalists. Last year it joined Twitter CEO Jack Dorsey in a Series B round for AngelList spinoff and token sale manager CoinList, raising $10 million. Polychain’s portfolio includes companies that have completed investment rounds with participation from Union Square Ventures, Andreessen Horowitz and Sequoia Capital. Read More...