Sun, Nov 19, 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. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W