Polychain Ventures
Polychain Ventures last closed a fund in May 2023 — 42 months ago. By its own rhythm, that is already past its usual gap.
Polychain Ventures has raised 4 times about every 23 months. The last was Polychain Ventures IV LP. That pointed to Apr 2025. It is 19 months past its own gap and has not filed a new fund.
Historically about 1 in 4 firms in this position filed within a year. The month is approximate — how often this is right.
Late-cycle This firm is deep enough into its last fund that a new one would not be a surprise.
- Funds on file
- 4
- Single-deal SPVs
- 3
- Capital raised
- $289M+
- Latest close
- May 2023
- Based in
- CA
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Polychain Ventures IV LP | May 2023 | $85M | 0001973048 ↗ |
| Polychain Ventures III LP | December 2021 | not stated | 0001899782 ↗ |
| Polychain Ventures II LP | January 2020 | $204M | 0001792334 ↗ |
| Polychain Ventures LP | February 2018 | not stated | 0001728254 ↗ |
| Polychain Ventures IV (Parallel) LP | May 2023 | $19M | 0001973052 ↗ |
| Polychain Ventures III (Parallel) LP | December 2021 | not stated | 0001899709 ↗ |
| Polychain Ventures II (Parallel) LP | February 2020 | $82M | 0001796508 ↗ |
| Polychain Opportunities Fund I LLC - Series CDCX II | February 2022 | not stated | 0001908789 ↗ |
| Polychain Opportunities Fund I LLC - Series CDCX | April 2021 | $35M | 0001880589 ↗ |
| Polychain Opportunities Fund I LLC - Series CB | November 2018 | $18M | 0001758285 ↗ |
2 of these filed no amount (an “Indefinite” offering), so the total above is a floor.
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Olaf Carlson-Wee
What Polychain Ventures invests in
- Typical fund
- $204M median, early stage, Series A-B scale
- Website
- polychain.capital
Service providers
- Fund administrator
- Securitize Fund Services (9 funds)
- Auditor
- KPMG (5 funds), EY (4 funds)
From Form ADV filed by POLYCHAIN CAPITAL LP CRD 285022 ↗, latest filing March 2026, covering 9 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.