Dragonfly Capital portfolio breakdown
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Outline
Founded in 2018, Dragonfly Capital Partners is a venture capital firm based in San Francisco, California. The firm prefers to invest in seed-stage, early-stage, and later-stage companies operating in the software, fintech, cryptocurrency, and financial services sectors. In this blog post we will go over some recent news about Dragonfly Capital, some investments the company has made, and what companies pouring funds into the firm.
Recent news about Dragonfly Capital
- Dragonfly Capital Partners Triples Down On Crypto With New $650M Fund
Crypto investor Dragonfly Capital Partners announced the launch of a new $650 million fund — its largest to date. The new Dragonfly Fund III is the San Francisco-based firm’s third — following its first $100 million fund in 2018 and a $200 million fund from 2020, according to Crunchbase data. In late February, San Francisco-based crypto-native investment firm Hack VC unveiled a new $200 million “crypto seed fund” to invest in early-stage startups in crypto, blockchain and Web3.
- Dragonfly Capital launches new $225 million fund to invest in DeFi, NFT, and more projects
Crypto venture firm Dragonfly Capital has launched a new fund worth $225 million to invest in a variety of projects.
The Dragonfly Fund II looks to mainly invest in four areas: Decentralized finance (DeFi) protocols; non-fungible token (NFT) projects; Ethereum Layer 2 solutions and businesses built on top of them; and centralized financial (CeFi) infrastructure.
Investments
Dragonfly Capital Partners has made 88 investments. Their most recent investment was on May 25, 2022, when Babel Finance raised $80M.
- How many investments has this organization made over time?
- Which industries has this organization most actively invested in?
Dragonfly Capital has invested into several organizations here are their top three investments by money raised (some aren’t Dragonfly’s lead investments).
- NEAR Protocol
The team behind the sharded Near blockchain protocol, a proof-of-stake (PoS) network, has raised $150 million in capital in a recent finance round led by Three-Arrows Capital. According to the funding announcement, Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures, Circle Ventures, and Metaweb.vc also participated. amber group is not a lead investor in the Near blockchain protocol. NEAR Protocol is a decentralized application (dApp) platform and Ethereum competitor that focuses on developer and user-friendliness. Its native NEAR tokens are used to pay for transaction fees and storage on the Near crypto platform.
- ConsenSys
ConsenSys, the NYC-based company behind the MetaMask wallet, closed $200m in USD financing round, bringing its valuation to $3.2 billion USD.
Backers included Marshall Wace, Third Point, ParaFi Capital, Think Investments, Dragonfly Capital, Electric Capital, Spartan Group, DeFiance Capital, Animoca Brands, Coinbase Ventures, and HSBC.
ConsenSys is an Ethereum software web3 company. ConsenSys enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. ConsenSys’ product suite, composed of Infura, Quorum, Truffle, Codefi, MetaMask, and Diligence, serves millions of users, supports billions of blockchain-based queries for its clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, ConsenSys is building the digital economy of tomorrow.
- Ava Labs
Avalanche Closes $230M Token Sale Backed by Three Arrows Capital, Polychain. According to a release put out by the Avalanche Foundation, the round was led by Singapore’s Three Arrows Capital, Polychain, and included participation from R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital as well as an unnamed group of angel investors.
The Avalanche Foundation says that it will use the proceeds to accelerate the rapid growth of DeFi, NFTs, and other new asset classes on the Avalanche blockchain. AVA Labs makes it simple to launch finance applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. We are empowering people to build an open, simple, and democratic internet of finance.
Diversity Investments
Dragonfly Capital Partners has made 5 diversity investments. Their most recent diversity investment was on Apr 25, 2022, when Afriex raised $10M.
- How many diversity investments has this organization made over time?
- Which diversity types has this organization most actively invested in?
Exits
Dragonfly Capital Partners has had 3 exits. Dragonfly Capital Partners’s most notable exits include ErisX, Tagomi, and Lumina.
- Which industries has this organization had the most exits in?
Conclusion
In this blog post we went over some recent news about Dragonfly Capital, some investments the company has made, and what companies pouring funds into the firm. Dragonfly Capital is climbing the ranks in the Blockchain venture capital ecosystem and i cant wait to see what the future holds for this new firm.
