Polygon Ventures: Backing the Bold

Polygon Labs

June 13, 2023

We are thrilled to unveil the official home of Polygon Ventures at polygonventures.xyz. Our journey, which started as an ecosystem fund, has evolved to encompass a broader vision, focusing on nurturing startups across the vast spectrum of blockchain networks.

We are an early-stage VC fund backing trailblazing teams building on the mission of bringing open internet to the masses. Our thesis is grounded in the belief that Web3 technologies have the potential to revolutionize various industries and redefine the nature of online interactions. We see a future where users have true ownership of their data, where platforms are governed by the communities that use them, and where wealth and opportunity are distributed more equitably.

Over the last decade, web3 startups have gone from fledgling ideas into a diverse array of applications with tens of millions of users. The advent of scalable technologies such as modular blockchains, alt L1s, L2s, and ZK proofs marks a pivotal transition from the creation phase to a scaling era, expanding crypto to billions worldwide.

Our investment strategy is grounded in the conviction that exceptional ideas often sprout at the earliest stages of a startup’s life. We offer financial commitments right from the pre-seed to seed stages.

To date, we've deployed over $50 Mn across a diverse portfolio of startups. Some of our notable investments include LayerZero, Midnight Society, Tiny Tap, Sandbox, EigenLayer, Gnosis Safe, Magic Eden, Laguna Games, PolyMarket, & Horizon, amongst others. Our investment radar primarily hovers over four themes:

Gaming: Blockchains have become the means to own and trade in-game assets. This shift is empowering gamers to become creators through an open framework for seamless integration of player made avatars, skins, weapons, and power dynamic in-game economies. Interoperability demolishes barriers between different gaming worlds enabling independent game devs and small gaming studios to create immersive experiences and mods
DeFi: Open, permissionless, and resilient systems that are not just replicating traditional financial services such as savings and payments but enable the creation of sophisticated financial instruments from lending platforms to derivatives without intermediaries. DeFi apps are also making significant strides in integrating Real-world securities and traditional financial institutions
Infra: Web3 infrastructure is undergoing productization, allowing developers to leverage APIs and tools that abstract away complexity and create reliable products using decentralized storage, off-chain computing, privacy guarantees, and composable security through shared best practices. These tools are pushing the boundaries of scalability and accessibility, enabling cheaper use cases with frictionless user experiences
Consumer & DAO: Novel paradigms for governance, incentivization, and ownership challenge traditional structures of locking in users and foster more inclusive and user-centric approaches to social applications, consumer tools and community management

Polygon Ventures sprouted as an ecosystem fund to bolster other startups forging their path on Polygon’s blockchain. Our origin story is intertwined with the story of Polygon itself - a tale of relentless innovation, fierce community spirit, and an unwavering commitment to decentralized solutions. Our inception within this thriving ecosystem grants us a deep-seated understanding of the challenges, opportunities, and dynamics of the Web3 space. Today, our vision extends beyond the boundaries of the Polygon ecosystem to support builders building over other blockchains as well.

We share Polygon’s DNA, enabling us to deeply empathize with the pain points of builders. Sandeep Nailwal, Polygon’s co-founder, fondly recalls how in our early days, Polygon was awarding grants even when we had less than $50k in our bank as we always put our community first.

“Polygon is committed to scaling Ethereum to unlock a much-needed new value layer for the next iteration of the internet,” said Nailwal. “Polygon Ventures plays a critical role in helping entrepreneurs and innovators bring their visions to life, setting the stage for this next era.

We help founders not only in their fundraising endeavors but as long term partners, fully committed to building enduring businesses together. To help our portfolio companies thrive, we have a hands-on approach and draw upon the collective expertise of the entire Polygon team of 300+ across the following core areas :

Web3 Strategy: We help shape future-proof strategies that capitalize on the unique aspects of web3, from protocol design, tokenomics, proactive business development, identifying moats to navigating regulatory challenges.
Technology: We offer technical guidance and resources to tackle security, including smart contract auditing, zk-cryptography, and decentralized governance.
Marketing: Our marketing expertise helps our startups reach their target audiences with a GTM strategy that goes beyond the crypto-savvy.
Partnerships: We proudly carry Polygon’s heritage of forging strong partnerships with web2 & web3 giants. We facilitate strategic collaborations and partnerships that can accelerate growth and market reach for startups.

We take great pride in our diverse portfolio of businesses across sectors, each contributing to the vibrant symphony of the Web3 universe. We are committed to backing today’s innovators and are thrilled to invite you on our journey.

“Our goal for Polygon Ventures remains steadfast as a catalyst for the web3 ecosystem” according to our Head of Investments, Shreyansh Singh. “We want to partner with the bold entrepreneurs of tomorrow and champion their journey to take web3 to the masses. We're hands-on collaborators, providing access to an exceptional network of seasoned builders.”

Shape the future with us

We're continually seeking ways to connect, engage, and collaborate with our community. That’s why we are excited to launch our new newsletter which will serve as a window into our team’s thought process, in addition to sharing our insights and investment highlights. Follow us and become part of our journey of shaping the future of the internet. Here's to creating a more open, decentralized, and connected world together.

Tune into the Polygon Labs Blog and our social channels to keep up with updates about the Polygon ecosystem.

Together, we can build an equitable future for all through the mass adoption of Web3!