2 years ago
Crypto task superior steadfast Dragonfly Capital Partners is raising $500 cardinal for a caller fund, according to a new regulatory filing.
The Dragonfly Ventures III Feeder money has a $500 cardinal people and hasn’t accepted its archetypal concern yet. Dragonfly indicated that it doesn’t expect the offering lo stay unfastened for much than 1 year.
If the rise is simply a success, Dragonfly volition beryllium the latest high-value money to look successful caller months. Paradigm smashed records with a $2.5 cardinal money announced successful November. Andreessen Horowitz is reportedly doubling down connected its already-prodigious crypto warfare thorax with a $4.5 billion people for a brace of caller funds.
That main quality with Dragonfly’s effort: The crypto marketplace is currently a oversea of red. Will it beryllium capable to spook prospective investors?
Dragonfly had not replied to a CoinDesk email by the clip of publication.
Launched successful 2018 with $100 cardinal successful assets nether management, Dragonfly is an concern steadfast focusing connected cryptocurrencies, caller protocols and startups.
Dragonfly has raised implicit $300 cardinal crossed 2 funds. The astir caller was the Dragonfly Ventures Fund II, which launched in precocious 2020 with a people of raising $200 million.
The Dragonfly portfolio includes the Avalanche blockchain, crypto speech Bybit and blockchain interoperability task Cosmos. The task superior steadfast precocious joined the $150 cardinal backing circular for the Near blockchain.
According to 1 partner’s LinkedIn profile, the steadfast present has implicit $2 cardinal successful assets nether management.
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