The new fund will look to support creators and disruptors in the crypto space.
Crypto War Chest
Dragonfly Fund III launched with a war chest of $650 million to be allocated towards a variety of crypto projects.
Haseeb Qureshi, the Managing Partner of Dragonfly, noted in a blog published on April 27 thru Medium, that the new fund will be supporting a number of projects that include disruptive founders, protocol builders, and even includes hackers. According to a piece by Brandy Betz at CoinDesk, the new fund brings the firm’s total assets under management to approximately $3 billion and puts them in the same circle as other big venture capital firms such as Sequoia Capital and Bain Capital.
“So much is going to change over the next 5 years. The next generation of startup founders are now emigrating from web2. (welcome!),” says Qureshi in the blog. “The L1 wars are heating up, the race to build the metaverse is on, DeFi is maturing, crypto gaming now seems inevitable, and the financial infrastructure is institutionalizing. There’s so, so much to build, and with our Fund III, we’re better equipped to back founders all along their journey, from seed to Series B and beyond.”
Dragonfly Capital is the venture capital firm behind some of the larger projects in the space including Avalanche, Near, Bybit, Matter Labs, Anchorage, Amber, Frax, Cosmos, Dune Analytics, MakerDAO, Compound, 1inch Exchange, and more. Qureshi notes in his piece that any crypto projects being built that are looking for backing can reach out at [email protected].
What is Dragonfly Capital:
Founded in 2018, Dragonfly Capital Partners is a venture capital firm based in San Francisco, California. Managed by experienced VCs from the U.S. and Asia, Dragonfly Capital Partners brings together the leading participants in the decentralized economy. Our global ecosystem enables us to invest in and support the most promising opportunities in the crypto asset class.
Where to find Dragonfly Capital:
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