Polychain Capital recently strengthened its crypto position with $200M funding and co-led $25M for Manta Network Developer.
Polychain Capital recently strengthened its crypto position with $200M funding and co-led $25M for Manta Network Developer.
A prominent crypto venture capital firm, Polychain Capital recently secured $200 million in its fourth funding fund. This development appears to signal a renewed investment momentum in the crypto space. The firm, which plans to raise $400 million in total, has already completed its “first close,” enabling the issuance of funds to crypto startups and projects.
Tides Turning for the Good
The venture capital ecosystem had experienced a slowdown due to a bearish crypto market and regulatory uncertainties. However, the tide seems to be turning as Polychain Capital’s significant funding rounds suggest a push towards future growth.
In a similar move, VC firm Coinfund raised $158 million for its fourth seed funding round, further highlighting the industry’s potential revival.
Blockchain Company Gets Needed Boost
Manta Network developer was among the beneficiaries of Polychain Capital. Manta Network, a blockchain company, garnered $25 million in a Series A funding round co-led by Polychain Capital and Qiming Venture Partners.
Manta Network offers a modular ecosystem for zero-knowledge (ZK) applications, ensuring transaction validity without compromising user privacy. The recently introduced Manta Pacific, a layer 2 ecosystem, simplifies the deployment of Ethereum Virtual Machine-native ZK applications.
Asian Markets: A New Blockchain Mine?
The surge in funding for Manta Network values the project at an impressive $500 million, which will be utilised to scale the network, expand the user base, and drive growth in key Asian markets.
Asia-Pacific is grooming to be the next epicentre of blockchain technology, with new crypto exchanges taking root in the past months.
Overall, the recent funding successes for Polychain Capital and Manta Network underscore the resilience of infrastructure projects within the crypto space, gaining favour among investors.
This can lead to a positive momentum, as investors seek promising opportunities beyond the turbulent crypto winter. As the industry heads to a positive note, these developments could signal a turning point, fostering further interest and potential growth for the crypto market.
