Odaily Planet Daily News Crypto venture capital firm Polychain accused its former partner Niraj Pant of violating fund policies by reaching an undisclosed private deal with portfolio company Eclipse Labs. Sources and internal documents show that former Eclipse Labs CEO Neel Somani allocated 5% of Eclipse crypto tokens to Pant in September 2022, just a few days after Pant instructed Polychain to lead Eclipse's $6 million pre-seed financing round. The allocation was later reduced to 1.33%, worth $13.3 million. Polychain said it did not learn about the deal until after Pant left in 2023. Pant insisted that the arrangement was legal, but Polychain believed the move should be disclosed under its policies to avoid conflicts of interest.
