Ryan Zurrer Of Polychain Capital Fired After The Firm’s Weak 2018 Result
Polychain capital was the first $1billion crypto-investment fund. It still is the largest crypto hedge fund. Recently revealed by TheBlock, Ryan Zurrer, who was their Principal & Venture Partner was let go due to the company’s bad performance in 2018. He had worked for the company since December of 2016.
After a decade working in renewable energy focused on the negotiation, development, execution, and operation of utility-scale renewable generation assets, Ryan discovered Bitcoin in late 2012 and subsequently became very passionate about the Ethereum ecosystem and blockchain technology generally. He began as an Angel Investor supporting start-ups developing deeply compelling innovations with blockchain-enabled networks. With Polychain Capital fund, his focus was on finding great projects and technical teams that could realize significant network effects with the right tokenization strategy.
His Linkedin profile says:
“I am an executive that works to realize outlier returns for stakeholders in token-enabled decentralized consensus networks that leverage blockchain technology. I bring a deep understanding of the synergies to be realized across relevant fields for most start-ups: commercial, strategic, financial & tax, legal, corporate governance as well technical.”
Polychain Capital is a diversified portfolio of blockchain-based assets. It is a vehicle for institutional investors to participate in this exciting new investment category. Polychain Capital combines the best of venture capital – connecting directly with entrepreneurs at an early stage to seek exceptional returns with the best of hedge funds and active trading – taking a quantitative and objective approach to investing seeking arbitrage and exploitable trading opportunities.
They had a good run till mid-2018 when they became the first billion-dollar crypto hedge fund however, there were a series of setbacks that followed. Wall street journal reported: “shed[ding] around 40% of the $800 million it made for clients last year through a combination of investment losses and withdrawals by some of its earliest investors.” Also, they saw their #3 person Chase Lochmiller depart earlier this year.
It seems like Zurrer is now working closely with Commonwealth Labs which is a governance-for-blockchain startup from California. He had earlier advised for the firm. Noe he is helping them find important contracts and is also personally investing in them.