Avalanche raises $230M Investment from Polychain Capital and Three Arrows Capital

Avalanche raises $230M investment from Polychian Capital and Three Arrows Capital from the private sale of tokens.

“We are pleased to support Avalanche as the platform continues to grow its vibrant community of open source developers,” said Olaf Carlson-Wee, Founder and CEO, Polychain Capital. “We look forward to seeing the next generation of applications launching on the platform.”

“Avalanche has found a product-market fit for what DeFi users want today, while also building for where the space is moving with custom blockchains on the platform,” says Kyle Davies, Chairman, at Three Arrows Capital.

Avalanche is the Ethereum competitor and currently the 13th largest cryptocurrency by market capitalization. At press time AVAX is trading at $65.41 with a market capitalization of $14,461,261,679 USD.