Polymarket raised from $4 million seed money to a proposed $21 billion valuation — but only ICE's checks are individually disclosed

Asked:

Which companies and funds invested in Polymarket during its fundraising rounds, when did they invest, and how much did they invest? What equity stakes did they receive?

This report synthesizes 332 public source observations covering ten financing events from October 2020 through August 2026, all amounts in US dollars. Reporting almost always discloses aggregate round sizes, not per-investor checks; no venture investor's ownership percentage was ever disclosed. The one clean stake calculation is ICE's contractual maximum of 20.0% — an inference from "up to $2 billion at approximately $8 billion pre-money," not a stated figure.

completed / disclosedannounced / committedreported or raising, not confirmed closedcircle area ~ round size, log-positioned amounts labeled on each mark; hover for syndicate detail

Round totals are aggregates: the 2024 announcement was a $25M Series A led by General Catalyst plus a $45M Series B led by Founders Fund, with Polychain, 1confirmation, ParaFi and Dragonfly named across the two rounds without per-firm apportionment — businesswire.com

The June 2025 Reuters report of a Founders Fund-led ~$200M raise at over $1 billion was never confirmed as a separate close; the October 2025 retrospective disclosure of $55M plus a $150M Founders Fund round at $1.2B likely covers it, so this report does not double-count — reuters.com

ICE is the only investor with disclosed individual amounts: a commitment of up to $2 billion announced 2025-10-07, later reported as funded in tranches, and a further $600 million confirmed 2026-03-27; its exact equity percentage was still not stated — nasdaq.com

The proposed $1 billion round at a $21 billion post-money valuation led by 1789 Capital was still raising as of 2026-08-31; if completed as described, all new money together would represent about 4.76%, but 1789's own check and stake are undisclosed — pulse2.com

Round by round

Date	Round	Status	Amount	Lead	Valuation	Institutional investors & caveats	Source

Investor index

Company or fund	Participation	Individual check / stake	Source

Method: live-web review of press releases, wire syndications and financial reporting, current through 2026-08-31; 332 source rows reviewed across four extracts, with syndicated duplicates of the same press release deduplicated to one event each. Amounts are aggregate round sizes in USD as publicly stated; "undisclosed" means no public figure exists, not zero. Investor lists include only companies, venture firms and funds publicly named — angel investors, executives investing personally, and protocols mentioned only via affiliated founders are excluded, and private cap-table allocations may be broader. Announcement or report dates are shown where original close dates were not disclosed; ICE's 20.0% maximum stake is a mechanical inference assuming primary equity and full funding.

This report was generated automatically by Keenable SELECT at a user's request, from publicly available web sources linked herein. Keenable does not review, verify, or endorse its contents and makes no representation as to accuracy, completeness, or timeliness; AI-based extraction may contain errors. Nothing in this report is investment, legal, financial, or other professional advice. All trademarks and referenced content remain the property of their respective owners; no affiliation or endorsement is implied. To report an error, rights concern, or request removal: legal@keenable.ai.