Polychain Capital is an American investment firm based in San Francisco that focuses on investments in cryptocurrency, blockchain technology, and digital assets. It manages actively traded portfolios of blockchain assets and invests in protocols and companies advancing the global adoption of cryptocurrencies.
34% of their portfolio is in Crypto & Web3. Deal activity decreased year-over-year (4 deals in the last 12 months vs 7 prior). Average disclosed round size is $40.9M (across 176 rounds with reported amounts).
Portfolio
151
Fund Size
$200M
Top Stage
Seed
Last 12 Mo
4
Team
WW
William Wolf
General Partner
LM
Leisha M.
Partner
AG
Angelo Goepel
Investments & Research
OC
Olaf Carlson-Wee
Founder/Manager
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
187 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Digital Asset Holdings | Series F | $355M | Jun 2026 |
 VeryAI | Seed | — | Mar 2026 |
| Digital Asset Holdings | Unknown | $355M | Jan 2026 |
| NNava Labs | Seed | — | Jan 2026 |
 Yellow Card | Strategic | $40M | Jan 2026 |
 Greenlane Holdings | Unknown | $110M | Oct 2025 |
 Aria Protocol | Seed | $15M | Sep 2025 |
 M^0 | Series B | $40M | Aug 2025 |
 Level | Seed | $2.6M | Mar 2025 |
| AAxelar Foundation | Unknown | $30M | Mar 2025 |
 Seismic | Unknown | $10M | Jan 2025 |
 Seismic | Unknown | $10M | Jan 2025 |
 Warlock | Seed | $8M | Jan 2025 |
| Warlock | Unknown | $8M | Jan 2025 |
| Aria Protocol | Unknown | $15M | Jan 2025 |
 Superform | Seed | $3M | Dec 2024 |
| Yellow Card | Series C | $33M | Oct 2024 |
 Yala | Unknown | $8M | Oct 2024 |
 Bitlayer | Series A | $9M | Oct 2024 |
| AAPRO Oracle | Seed | $3M | Oct 2024 |
 Sahara AI | Series A | — | Aug 2024 |
 OpenLedger | Seed | $8M | Jul 2024 |
 Allora | Unknown | — | Jun 2024 |
| BBotanix Labs | Pre-Seed | $3M | May 2024 |
 Movement Labs | Series A | $38M | Apr 2024 |
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Top Co-Investors
Coinbase Ventures26 shared
dao525 shared
Andreessen Horowitz22 shared
Dragonfly16 shared
Paradigm14 shared
CMS Holdings14 shared
Hack VC13 shared
Binance13 shared
Protocol Labs12 shared
Bain Capital Ventures11 shared
CMT Digital11 shared
Pantera Capital11 shared
Valor Equity Partners10 shared
Placeholder10 shared
Wintermute Ventures10 shared
Amber Group10 shared
HashKey Capital9 shared
Alumni Ventures9 shared
a16z crypto8 shared
Last updated: 7 October 2026