Dragonfly Capital raises $650 million in third round of funding

Dragonfly Capital, a leading venture capital firm active in the cryptocurrency sector, has announced its third round of funding, valued at $650 million. The figure tops the previous two rounds of $100 million in October 2018 and $200 million in December 2020.

The $650 million raise included participation from Tiger Global, KKR, Sequoia China and Invesco, among others, and was slightly higher than the $500 million originally disclosed to the Securities and Exchange Commission on a Form D in January became.

The launch of Dragonfly Fund III came with a commitment to distribute financial support for projects with seed funding levels up to Series B in the decentralized finance, cryptogames, and metaverse sectors, among others.

Raising Dragonfly Fund III, a $650 million crypto venture fund, our largest fund to date.

With this new fund, we support founders throughout their cryptocurrency life cycle.

Excited to be a small part of the next chapter in this industry.

Dragonfly Capital raises $650 million in third round of funding
Dragonfly Capital raises $650 million in third round of funding

The Cayman Islands-based firm often positions itself at the forefront of the industry’s highest-profile venture raises, having invested in 54 projects including Avalanche’s $12 million private token sale in June 2020, the Seed Round of $2 million from Dune Analytics in September 2020, and among others the $10 million series from Dydx in October 2018.

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