The latest crypto fund from Dragonfly Capital wants to invest from the Seed To Exit”
The latest crypto fund from Dragonfly Capital wants to invest from the Seed To Exit”
- Dragonfly was founded in 2018 and invested a total of more than $ 700 million
- According to a Manager of Dragonfly Capital, most US venture capital companies do not concentrate enough on crypto projects in Asia
Dragonfly Capital has launched its third crypto venture fund with promises of $ 650 million, which provides for the capital supply to support startups in later phases during the maturation of the crypto industry.
The supporters of the new fund include Tiger Global, KKR, Sequoia China, Investco, Top Tier Capital Partners and foundations of the Ivy League. The fund had originally sought commitments of $ 500 million, An official registration shows.
Dragonfly intends to "double" the next breakdowns in the areas of crypto -infrastructure, defi and intelligent contract calming as well as consumer products such as NFTs, crypto games and daos.
"Our strategy is still early phase investment, but we will now also be able to lead more rounds of series A and B," Haseeb Qureshi, managing partner of Dragonfly, told Blockworks. "Our goal is to support entrepreneurs from the seed to exit in every round."
The new fund has not yet made any investments.
The company put its second risk capital fund on international decentralized technologies with a focus on $ 225 million last year.
Dragonfly was founded in 2018 and invested more than $ 700 million, including investments in Avalanche, Near Protocol, Compound, Makerdao, 1inch, Matt Labs, Anchorage and Dune Analytics.
Although venture dollars in crypto have flowed in recent years, Qureshi said that the largest gap in the market is currently investing in Asia.
"Dragonfly was global from day one, so we are deeply rooted in Asia," he said, adding that the company was an early supporter of Amber Group, Babel Finance, Matrixport and Bybit. "We believe that this is an enormously important part of the market that is neglected by most Americans [Venture Capital Firms]."
The Amber Group achieved an assessment of $ 3 billion in February in February, while Matrixport achieved an evaluation of $ 1 billion last year.
bybit, which recently moved his headquarters from Singapore to Dubai, presented the trade in crypto options this week. CEO Ben Zhou said that the company was confident that the new offer will contribute to normalizing the trade in crypto options, "just like what Robinhood has done for stock options".
qureshi refused to comment on possible future funds.
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The contribution Dragonfly Capital’s Latest Crypto Fund Aims to Invest from 'Seed To Exit' is not a financial advice.