Polygon has closed a $450 million raise. Sequoia Capital, one of Silicon Valley’s oldest and most successful venture capital firms, led the round.
Venture capital firms are taking notice of Polygon.
The Ethereum scaling solution announced it had closed a $450 million funding round Monday. Sequoia Capital India led the round, while other participants included SoftBank, Galaxy Digital, Tiger Global, Alameda Research, Animoca Brands, Spartan Fund, Dragonfly Capital, Variant Fund, and Kevin O’Leary.
Founded in 1972, Sequoia Capital is one of Silicon Valley’s oldest and most renowned venture capital firms, managing over $80 billion in assets. The firm has dabbled in crypto since 2015, making a handful of small bets in the space through its Scouts program. Its previous crypto-related investments include Polychain Capital, MetaStable, and Paradigm. However, its latest investment in Polygon is its biggest Web3 or crypto-infrastructure bet yet.