Sun, Sep 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Polychain Capital offers a new spin on the cryptocurrency hedge fund

Friday, August 19, 2016

Bailey McCann, Opalesque New York:

At the end of July, Olaf Carlson-Wee, the first employee at Andreessen Horowitz-backed bitcoin exchange Coinbase, resigned his position as Head of Special Projects in order to start his own blockchain focused hedge fund. The news sent ripples through the cryptocurrency space at the time, but the reality set in at the end of last week when Carlson-Wee's Polychain Capital made its first regulatory filing.

The San Francisco-based hedge fund will run an actively managed portfolio of blockchain-based assets. Unlike other cryptocurrency hedge funds out there, Polychain won't be amassing a portfolio of just Bitcoin or Ether. Instead, Carlson-Wee says he'll be backing all of the different parts of the blockchain world, using his knowledge as someone who has been in it since the beginning. "Conventional wisdom says to invest in companies built on the blockchain protocol, but that isn't the whole picture," he tells Opalesque. "Not that many people are going to be able to tell which are the good companies or who really has the skills."

Carlson-Wee should know. One of his early hires at Coinbase was a 14-year-old - not exactly the hire you'd expect to see hidebound VCs or investors make. Carlson-Wee has the kind of egalitarian view of blockchain that you only get from someone who is focused on building something, not just arbitraging it. The way he describes Polychain sounds a bit like a hybrid between a research lab, an......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2

  3. Launches - Orchard launches new credit platform, ETN based on hedge fund to launch on the LSE[more]

    Orchard launches new credit platform Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution. De

  4. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  5. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N