Crypto venture company Dragonfly acquires Hedge Fund with the support of A16Z, Sequoia
Crypto venture company Dragonfly acquires Hedge Fund with the support of A16Z, Sequoia
- Dragonfly acquires an early Ethereum investor in an unspecified deal
- The managing partner of Dragonfly, Haseeb Qureshi, used to work as a partner at the hedge fund company
The risk capitalist Dragonfly, which is aimed at cryptocurrencies, bought its first hedge fund company for digital assets supported by Sequoia and A16Z.
The acquisition, meta tablel, founded in 2014, is one of the oldest and most powerful crypto hedge funds. Meta stable was an early investor in Ethereum, Filecoin and Algorand - at a point that a return of more than earned 500%.
The fund has recently invested in the FLOATING POINT Group trading platform and the Layer 1 protocol Iron Fish.
The managing partner of Dragonfly, Haseeb Qureshi, who previously worked as a partner at MetaStable, in a Bloggen Post Monday said that the company was now "more expansive than ever".
The message comes months after Dragonfly, based in San Francisco, Ca, Completed his third crypto-venture fund with oversubscribed. His second fund, which was closed in 2021, brought $ 250 million. The company is still interested in native protocols, web3 initiatives and tokens that aim to create new digital economies, said General Partner Tom Schmidt in Can .
Dragonfly will soon be the new owner of 10 million LDO tokens-this corresponds to 1 % of the total offer-after the Lido dao Month. Lido is a liquidity platform on which dealers can achieve returns to stuck assets. LDO token owners agreed after they had published various versions of the proposal.
Dragonfly undertaken to buy the LDO tokens at $ 1.45 per piece or at the two-week average price at the time of the vote plus a bonus of 5 %, depending on which value is higher. A blocking period of one year applies.
As part of a brand overhaul, which was also announced on Monday, the company "Capital" has deleted its name.
The acquisitions and rebranding efforts fit into the more comprehensive goal of Dragonfly to integrate again as a crypto-native brand. According to Qureshi, his new look is lovingly inspired by the "Hacker" and "Weirdo" culture, which can often be seen everywhere in the room.
"It's time for a refreshment," said Qureshi.
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The post-crypto venture company Dragonfly acquires hedge fund with the support of A16Z, Sequoia is not financial advice.