Polychain Capital, the cryptocurrency investing firm, raised $175 million for their first venture capital fund, according to Axios. News of the fund first broke in January. As per Axios, the firm will continue to invest in cryptos and other digital currencies via its hedge fund, whereas the venture fund will make equity investments in startup companies in the space. Elsewhere, Pantera is getting close to raising $175 million for its own venture fund. “We raised two-thirds of the $175 million target in the first close, and plan to hold a final closing in Q1 of 2019,” Pantera said in an investor letter.
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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email Fchaparro@TheBlock.co.
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