Polychain Crypto Fund Raises Additional $20 Million Investment
As per the SEC filings, Polychain owns assets under management (AuM) worth over $300 million which includes crypto assets, equity in companies, and unspent cash from the investors.
Total Return For Investors
Polychain Fund I LP generated a total return of 1332.3 percent for those investors who have invested the money in the hedge funds.
After the outbreak of COVID-19, the market became a bit uncertain, however, now it appears that some investors still want to support the blockchain projects.
Since the year 2019, the crypto hedge fund industry is growing rapidly and has become one of the best performing assets in the year 2020.
According to the reports, in order to attract more investors, the hedge industry promised them to offer big returns. It mentioned that many of its mainstream investment counterparts offer weak returns, but the crypto hedge fund industry would offer big returns to its investors.
The report further stated that between the years 2018 and 2019, the crypto investment market experienced a drop-in price, due to which many of the firms decided to shut their businesses. However, some of them searched for new creative ideas to just survive.
A16z Raised $515 Million
Andreesen Horowitz (a16z), Silicon Valley investment powerhouse, would soon release its second crypto, and for that, it had raised $515 million in May 2020. Its second crypto would support the new ideas related to cryptocurrencies.
The report states that a16z was hoping that it would raise a total of $450 million.
As the digital asset values started making new investments via ICOs, the crypto firms begin relying on venture capitalists.
In the year 2017, many of the retail investors decided to put their money in crypto assets to earn profit from it, but now they are trying hard to get out of it.