$1 Billion cryptocurrency firm reveals its future plans

27 Jun, 2018
by Matthew Kim
$1 Billion cryptocurrency firm reveals its future plans

Polychain Capital, the first cryptocurrency fund with more than $1 billion in assets under management, revealed its plans for the future in an interview with Fortune. In the interview, founder and CEO of Polychain Olaf Carlson-Wee discussed many topics, including Polychain’s investment strategy, history, and future.

As expected of a hedge fund, Polychain Capital is a fund that operates by carefully choosing promising projects to invest in, only taking long positions. According to Carlson-Wee, Polychain invests “fundamentally based on what [they] view as the best technology that allows for novel behavior on the blockchain”. The team behind Polychain is specifically interested in Dfinity, a project bent on creating a decentralized cloud service aspiring to challenge Amazon Web Services.

Another interesting tidbit from the interview was when Carlson-Wee listed the partners of Polychain Capital. Although he could not reveal the identities of the limited partners, notable firms such as Andreessen Horowitz, Union Square Ventures, Founders Fund, Sequoia, Bain, and Bessemer were mentioned.

In reference to the current state of market, Carlson-Wee suggested that the recent slump is a minor pullback after the substantial growth of last year. He pointed to the healthy number of transactions on major networks as an indication of thriving projects. He also explained that although people are panicking due to their tendency to focus on the short term, the “volatility has been small in the six months compared to what [he’s] seen in the long term”. Thus, it can be concluded that Polychain will continue to seek and invest in promising projects despite the bleeding market. 

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