Crypto VC Firm Polychain Makes Payouts to Investors in Two Funds

Polychain Capital, the crypto investment firm, is making sizable payouts to investors in two of its four venture capital funds.

The San Francisco-based company founded by Olaf Carlson-Wee began distributing 44% of the Polychain Ventures II fund to investors this week, according to people familiar with the matter. Polychain originally raised about $300 million for the fund in 2019, though its assets are likely worth more today.

The firm also paid out roughly half of the value of its first VC fund — a $175 million vehicle raised in 2018 — earlier this year, the people added, asking not to ...