Dragonfly Capital closes $ 650 million oversubscribed by Crypto Venture Fund III

The company will expand its global seed portfolio crypto and blockchain investments

SAN FRANCISCO and NEW YORK, May 9, 2022 / PRNewswire / – Dragonfly Capital (“Dragonfly”), a global crypto-focused investment company, today announced the final closure of its third venture capital fund, Dragonfly Ventures III, LP (“Fund III”) with capital commitments from the limited partners of $ 650 millionexceeds the initial objectives of the Fund $ 500 million. The oversubscribed fund closed at its absolute highest and received strong support from institutional sponsors, including the major Ivy League private equity funds, KKR, Tiger Global, Sequoia China, Invesco, US pensions and sovereign wealth funds.

Dragonfly previously closed Dragonfly Ventures II in 2021 after taking over $ 250 million. The new fund improves the company’s ability to invest in all stages of blockchain and cryptocurrency companies, native protocols and tokens that want to create new digital economies. Dragonfly will leverage the team’s investment results and global technology-first approach to investing in cryptocurrencies.

Dragonfly has always been different because of two things: our holistic approach to investing, which reflects the boundless nature of crypto, and our technical propensity, as most of our team understand crypto technology from first principles. In Fund III, we will double our support to upcoming breakthroughs in crypto infrastructure, DeFi, scaling of smart contracts and game-changing consumer products such as NFTs, cryptocurrencies and DAOs.This is an exciting time in Web3 history and we look forward to working with the next generation of builders , ”Said Haseeb Qureshimanaging partner at Dragonfly.

“We look forward to continuing to do what we love – working closely with founders from the earliest stages to build crypto-generational businesses. Most of our investment teams have experience working in crypto startups, and we utilizes the hands-on experience to help entrepreneurs navigate the difficult stages of building amazing businesses in this space, “said Thomas Schmidtgeneral partner at Dragonfly.

Since the start in 2018, Dragonfly has established a solid track record and invested over $ 700 million of capital in seed, series A, series B and liquid crypto transactions. To date, the company has made early investments in many leading projects and companies, including Avalanche, NEAR Protocol, Compound, MakerDAO, 1inch, Matter Labs, Amber Group, Anchorage, Bybit and Dune Analytics.

About Dragonfly Capital
Dragonfly Capital (“Dragonfly”) is a leading global crypto-focused investment firm that works with crypto founders at all stages of development, from seed to Series D to ventures. floating tokens. With a global team of over 40 professionals, Dragonfly is focused on working closely with the founders to solve their most relevant technology, product and go-to-market problems. For more information, please visit https://dcp.capital.

Funds managed by Dragonfly Capital and its affiliates are only available to accredited investors. The above is for informational purposes only and does not constitute an offer to buy or sell securities and should not be relied upon as a basis for any investment decision. Investing in cryptocurrencies is highly speculative and the market is largely unregulated.

SOURCE Dragonfly Capital


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