fbpx

Crypto-Focused Investment Firm Dragonfly Capital Raises $650 Million

Dragonfly Capital is an investment banking firm that has operated since 2018 in North Carolina and South Carolina that focuses on small and medium-sized companies. The firm has just closed its third investment fund of $650 million to create a new digital economy by investing in blockchain and cryptocurrency companies, protocols, and tokens.

Some of the investment partners included Tiger Global, Sequoia China KKR, Invesco, Ivy League endowments, and Top Tier Capital Partners. Dragonfly initially aimed to raise $500 million, according to a filing from January, but had more success than planned. Up until now, the firm had invested in 54 companies. The previous funding rounds took place in 2018 and 2021, raising $100 million and $225 million, respectively.

“We see more opportunities across the different stages and through the lifecycle of a company or protocol. Also, the market has also grown so much. When we first started investing, the entire market for crypto was a few hundreds of billions and now it’s in the multitrillions,” 

Dragonfly Capital’s managing partner Haseeb Qureshi told TechCrunch.

Qureshi further elaborated that there’s a lot of excitement around play-to-earn gaming, DAOs, and Web 3.0 DevTools, and the firm will continue to invest in DeFi, smart contracts, NFTs, the metaverse, and other crypto sectors.

Why You Should Care

In terms of capital investments, 2022 seems to be another excellent year for the crypto industry.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content