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A16z and Sequoia-backed blockchain fund seeks TSX listing

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Side view of block chain hologram on blurry pattern background. Interface concept. 3D Rendering; Photo courtesy of peshkov/iStock/Getty Images

Polychain Capital, a blockchain technology hedge fund manager backed by U.S. venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital, is planning to launch an initial public offering in Canada, according to a report by Bloomberg.

Polychain, which invests in blockchain-based digital assets, aims to raise about $400 million (US$325 million) and list on the Toronto Stock Exchange, the report said.

San Francisco-based Polychain was founded in 2016 by CEO Olaf Carlson-Wee. The fund manager’s other backers include U.S. venture capital firm Union Square Ventures.

Update: Coindesk reported that the Bloomberg story is “false”, citing feedback obtained from Polychain Principal and Venture Partner Ryan Zurrer.

Photo courtesy of peshkov/iStock/Getty Images