Dragonfly Capital, a leading venture capital corporation operating in the cryptocurrency sector, has announced its third round of financing, valued at USD 650 million. The figure tops its two previous rounds of $100 million in October 2018 and $200 million in December 2020.
The $650 million increase included participation from Tiger Global, KKR, Sequoia China and Invesco, among others, and was slightly higher than the $500 million initially disclosed to the Securities and Exchange Commission in a Form D filing. in January.
The introduction of Dragonfly Fund III was coupled with a commitment to distribute financial support to projects with seed funding levels to Series B within the decentralized finance, crypto gaming, and metaverse sectors, among others.
Gm anons!
We’re launching Dragonfly Fund III, a $650M crypto venture fund—our largest fund ever.
With this new fund, we’ll be backing founders all across their lifecycle in crypto.
Excited to be a small part of the next chapter of this industry.https://t.co/YuN5oz1v9v
— Haseeb Qureshi (@hosseeb) April 27, 2022
We are launching Dragonfly Fund III, a $650 million crypto venture fund, our largest fund yet.
With this new fund, we will support founders throughout their cryptocurrency lifecycle.
Excited to be a small part of the next chapter in this industry.
The Cayman Islands-based corporation often positions itself at the forefront of the industry’s most high-profile venture raises, having invested in 54 projects, including Avalanche’s $12 million private token sale in June 2020, the $2 million seed round from Dune Analytics in September 2020 and the $10 million Dydx Series in October 2018, among others.
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