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Hedge Fund
INTERNET | Internet Software & Services / Asset & Financial Management & Trading
polychain.capital

Investments

169

Portfolio Exits

4

Funds

5

Partners & Customers

2

About Polychain Capital

Polychain Capital is an investment firm focusing on the digital asset class, specifically in the blockchain technology sector. The company offers actively managed portfolios of blockchain-based digital assets, which are created, issued, and transmitted using software. It primarily serves the cryptocurrency industry. It was founded in 2016 and is based in San Francisco, California.

Headquarters Location

548 Market Street Suite 64375

San Francisco, California, 94104,

United States

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Expert Collections containing Polychain Capital

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Polychain Capital in 3 Expert Collections, including Blockchain.

B

Blockchain

6,949 items

Companies in this collection build, apply, and analyze blockchain and cryptocurrency technologies for business or consumer use cases. Categories include blockchain infrastructure and development, crypto & DeFi, Web3, NFTs, gaming, supply chain, enterprise blockchain, and more.

F

Fintech 100

248 items

250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

F

Fintech

8,123 items

Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.

Research containing Polychain Capital

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Polychain Capital in 1 CB Insights research brief, most recently on Oct 19, 2021.

Latest Polychain Capital News

How Crypto Extraordinaire Yubo Ruan Built Parallel Finance, Now Worth $500 Million

Nov 29, 2023

How Crypto Extraordinaire Yubo Ruan Built Parallel Finance, Now Worth $500 Million The key to staying ahead in  decentralized finance  (DeFi) is innovation and a clear vision. This sector, a blend of technology, finance, and blockchain, is reshaping how we think about financial transactions, lending, and asset management. At the heart of the movement is a new generation of entrepreneurs who are not just adapting to change but are driving it, using their unique insights to create platforms that challenge traditional financial models. Yubo Ruan — crypto extraordinaire Yubo Ruan is one of the pioneering forces currently at work in the DeFi space. As the founder and CEO of  Parallel Finance , a decentralized lending and staking protocol on Polkadot and Ethereum backed by top-tier investors, including Sequoia, Founders Fund, Lightspeed Ventures, Polychain Capital, Coinbase Capital, Pantera Capital,  Yubo has steered the company to a $500 million valuation , 40 employees, and over 340,000 users, marking it as a significant player in the DeFi landscape. Beyond that, his journey from a young tech enthusiast to a leading figure in finance displays the importance of innovation for business success. From Childhood Projects to Tech Innovator Yubo’s journey began with a simple yet innovative idea – a smart piggy bank designed to teach children about money management. “My initial motivation to delve into coding stemmed from observing that many children are overindulged by their parents and lack money-saving skills,” explains Yubo. This eventually led to the creation of Alisimba, a company that built a smart piggy bank helping students become more financially literate and reward budgeting. Alisimba, which Yubo started when he was in high school, was  eventually acquired . Another pivotal moment in Yubo’s early life was his response to his grandfather’s battle with Parkinson’s disease. Moved by his grandfather’s difficulties, Yubo developed a QR code-following robot to assist with daily tasks, a creation that won the first prize at the China Robotics Competition. Building a Foundation for Leadership Yubo’s journey continued through founding Alisimba, Skylight Investment, and  8 Decimal Capital , each venture adding layers to his  leadership and entrepreneurial skills. Reflecting on this period, Yubo states, “With each role, I’ve gained insights into more effective team leadership, the art of choosing the right talent, and resolving conflicts within a team.” More importantly, his experiences ingrained in him a mindset of ambition and decisiveness. Yubo learned the art of balancing vision with practicality, a balance that would become crucial in the competitive world of DeFi. Triumphs and Trials at Parallel Finance While his formative years (both in life and business) have been important, his time at Parallel Finance stands out. Under Yubo’s leadership, the platform has rapidly ascended in the DeFi space. Moreover, the rise has been marked by a significant increase in Total Value Locked (TVL) and successful funding rounds, which set it apart early on. Yubo recalls, “Within seven months of launching Parallel, our Total Value Locked (TVL) surged to nearly $900 million, and I successfully raised over $30 million from fifty investors.” These milestones were a clear indicator of the company’s potential and Yubo’s ability to realize it. However, the journey was not without its obstacles. The bear market posed significant challenges, reducing the TVL and leading to internal conflicts within the company. “This experience taught me the importance of prioritizing individuals with high moral standards and integrity, not just talent,” said Yubo, whose challenges served as learning experiences, reinforcing the need for a strong, cohesive team aligned with the company’s vision and values. Envisioning DeFi’s Future with Parallel Finance Yubo is looking beyond the current DeFi landscape, envisioning a future where DeFi is an integral part of everyday finance, underpinned by advanced blockchain networks. “DeFi will soon become a daily staple for billions of people,” Yubo asserts. His ambition is to see all financial transactions processed through more transparent and reliable Layer 2 and Layer 3 networks, revolutionizing the way we approach finance. In his envisioned future, Parallel Finance is not just participating but leading. In fact, Yubo aims to position Parallel as the dominant DeFi-centric Layer 2 network, something he believes is entirely possible due to the robust platform and constant innovation. Parallel Is Changing NFTs and Loans The creation of Parallel Lending, part of Parallel Finance’s NFT product suite, shows clear recognition of emerging trends in the DeFi space. Yubo perceived early on the potential of NFTs beyond digital art, seeing them as collateral for loans and a new form of digital asset. “NFT lending will emerge as a significant sub-sector in the DeFi space,” Yubo predicts. It was that insight that led to the development of Parallel Lending, poised to transform the way NFTs are utilized in the financial world. Yubo also foresees a future where digital collectibles and assets play a central role in personal finance, aligning with the broader trend of digitalization in every aspect of life. Therefore, it is more than a product, standing as a strategic move toward shaping the future of asset management and lending in the DeFi ecosystem. Choosing the Path of Innovation Over Tradition Yubo has never walked the normal path, and his decision to establish Parallel Finance instead of joining an established firm like Polychain Capital highlights his entrepreneurial spirit. “During my research, I discovered my deep passion for DeFi and its potential to benefit everyday people,” he explains his decision, which was driven by his belief in the transformative power of DeFi and his desire to be at the forefront of this change. Future Aspirations: Setting a New Standard in DeFi Looking ahead, Yubo’s ambitions for Parallel Finance are lofty yet grounded in a clear strategy. His goal is to transform Parallel into the central hub of the DeFi world, catering to a billion users globally. This ambitious vision involves significant technological advancements and user experience enhancements. “To achieve this, I plan to develop a Layer 2 (L2) network that offers a tenfold improvement in user experience,” he states. His initiatives, including covering all gas fees for users and integrating real-world assets, are designed to make DeFi more accessible and practical for a broader audience. These plans are not just about scaling up but aim to redefine the DeFi experience. Yubo’s focus on user experience, security, and integration of real-world assets illustrates a commitment to making DeFi a reliable and integral part of everyday finance. His vision for Parallel Finance is a reflection of his broader vision for the DeFi space – innovative, user-centric, and transformative. Featured Image Credit: David McBee; Pexels

Polychain Capital Investments

169 Investments

Polychain Capital has made 169 investments. Their latest investment was in CreateSafe as part of their Seed VC on November 11, 2023.

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Polychain Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/16/2023

Seed VC

CreateSafe

$4.6M

Yes

2

10/26/2023

Seed VC

Nocturne

$6M

Yes

3

10/25/2023

Series A

Shrapnel

$20M

Yes

4

10/24/2023

Seed VC

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$99M

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10

8/9/2023

Pre-Seed

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$99M

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10

Date

11/16/2023

10/26/2023

10/25/2023

10/24/2023

8/9/2023

Round

Seed VC

Seed VC

Series A

Seed VC

Pre-Seed

Company

CreateSafe

Nocturne

Shrapnel

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Amount

$4.6M

$6M

$20M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

3

4

10

10

Polychain Capital Portfolio Exits

4 Portfolio Exits

Polychain Capital has 4 portfolio exits. Their latest portfolio exit was MyCrypto on February 01, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/1/2022

Acquired

$99M

5

1/18/2022

Acquired

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$99M

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10

4/14/2021

IPO

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$99M

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10

1/1/2021

Merger

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$99M

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10

Date

2/1/2022

1/18/2022

4/14/2021

1/1/2021

Exit

Acquired

Acquired

IPO

Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

5

10

10

10

Polychain Capital Fund History

5 Fund Histories

Polychain Capital has 5 funds, including Polychain Ventures IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/18/2023

Polychain Ventures IV

$200M

2

10/9/2019

Polkadot Ecosystem Fund

$99M

10

9/3/2019

Polychain Ventures

$99M

10

Polychain Ventures II

10

dao5

$99M

10

Closing Date

7/18/2023

10/9/2019

9/3/2019

Fund

Polychain Ventures IV

Polkadot Ecosystem Fund

Polychain Ventures

Polychain Ventures II

dao5

Fund Type

Status

Amount

$200M

$99M

$99M

$99M

Sources

2

10

10

10

10

Polychain Capital Partners & Customers

2 Partners and customers

Polychain Capital has 2 strategic partners and customers. Polychain Capital recently partnered with Eclipse on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/26/2022

Partner

United States

3/1/2021

Partner

Canada

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0

Date

6/26/2022

3/1/2021

Type

Partner

Partner

Business Partner

Country

United States

Canada

News Snippet

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Sources

0

Polychain Capital Team

6 Team Members

Polychain Capital has 6 team members, including current Founder, Chief Executive Officer, Olaf Carlson-Wee.

Name

Work History

Title

Status

Olaf Carlson-Wee

Founder, Chief Executive Officer

Current

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Name

Olaf Carlson-Wee

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Work History

Title

Founder, Chief Executive Officer

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Status

Current

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