- Dragonfly Research is going global with Fund II
- Fund II will invest in international decentralized technologies, a mission that has been central to Dragonfly since launching its first fund in 2018.
Dragonfly is betting big on the next generation of global crypto entrepreneurs.
The digital asset research firm is launching their second venture capital fund with $225 million, according to a company release.
Fund II will invest in international decentralized technologies, a mission that has been central to Dragonfly since launching its first fund in 2018.
“We started Dragonfly with the vision that unlike traditional companies, decentralized technologies are global from day one,” Dragonfly managing partner Haseeb Qureshi wrote in the announcement. “There is no such thing as an American or Chinese protocol — the moment a protocol is launched, its users span the world. Crypto is borderless and global by its nature.”
Fund II will invest in entrepreneurs and projects focusing on decentralized finance, non-fungible tokens, layer 2 and centralized financial infrastructure.
“We’ve been lucky enough to partner with some of the top minds across both the East and the West, building crypto infrastructure, decentralized protocols, and breakthrough consumer applications,” Qureshi wrote. “Since we originally began investing in the crypto landscape, a lot has changed.”
Dragonfly has partnered with Sequoia China, who will serve as the Fund’s strategic limited partner, and other Asian platforms including OKEx, Huobi, Bitmain, and Bybit.
The firm has previously backed companies including digital asset financial service provider Amber and crypto-backed real estate investment firm LABS.