Dragonfly

Parent Company:

Developer:

Formerly: Dragonfly Capital

Founded: 2018

Location: --

dragonfly.xyz

Twitter

Medium

Details

Dragonfly is a leading global, crypto-focused investment firm that partners with crypto founders in all stages of development, from seed to Series D, to liquid tokens. It supports teams to build generational companies and products in crypto across sectors and stages, ranging from protocols to exchanges to apps and beyond. Dragonfly consists of Dragonfly Ventures, Dragonfly Liquid, and Metastable.

Team

Bo Feng

Founder & Managing Partner

Mia

Partner

Haseeb Qureshi

Managing Partner

Lindsay X. Lin

Partner & Chief Operating Officer

Tom Schmidt

Partner

Significant Events

2022-04-27

Dragonfly Fund III is a $650M venture fund

2020-12-17

Dragonfly Capital Partners raising $200m for second fund

2018-10-09

Dragonfly Raises $100 Million for Asia-U.S. Crypto Fund

Investment Map

Investments

Tag

Ecosystem

Token Issuance

Region

Operating Status

zkSync / Matter Labs

A scaling and privacy engine for Ethereum

Animoca Brands

Web3 game software company and venture capital company

Lido

Liquid staking solution

Avalanche

Decentralized blockchain

BitDAO

One of the largest token governance vaults

MakerDAO

Decentralized lending platform

Symbiosis Finance

Cross-chain engine and interchain communication protocol

Amber Group

Digital asset platform

Aptos

Scalable layer 1 blockchain

Babel Finance

Cryptocurrency financial institution

NEAR Protocol

Layer-one blockchain

Ribbon Finance

Crypto structured products for DeFi

Mina

Lightweight Blockchain

ConsenSys

Ethereum and decentralized protocols software company

Axelar

Decentralized cross-chain communication network

Polygon

Decentralised Ethereum scaling platform

Dune Analytics

Powerful tool for blockchain research

Galxe

Web3 credential data network

1inch Network

Decentralized Exchange Aggregator

Solend

Decentralized protocol for lending and borrowing

ErisX

Crypto spot and futures markets

Acquired

Aurora

EVM built on the NEAR Protocol

dYdX

Decentralized Exchange

Celo

Mobile-first public chain

Cosmos

The Internet of Blockchains

Flashbots

Research and development company focussed on MEV

Bybit

Cryptocurrency exchange

RSS3

Information dissemination for the Open Web

Bitget

Cryptocurrency derivatives exchange

LI.FI

Cross-chain bridge aggregation protocol

Cega

Exotic derivatives protocol

Bitget Wallet

Multi-chain cryptocurrency wallet

Caldera

Customizable and application-specific layer-two blockchains

Hashflow

Decentralized exchange platform

XLD Finance

Providing financial services across emerging economies

Ancient8

Infrastructure for GameFi

InfStones

Blockchain infrastructure provider

TaxBit

Tax and accounting solution

Aurigami

Lend, borrow, and earn with ease on Aurora

SHRAPNEL

Multiplayer first-person shooter

Arbor Finance

Tokenized bond marketplace for on-chain entities

Gauntlet

Simulation platform for on-chain risk management

Finblox

High yield savings app

Goldfinch

Decentralized credit protocol

WOO Network

Deep liquidity network

Debank

Multi-chain portfolio tracker

Gelato Network

Web3’s automation and relayer network

Matrixport

Digital asset financial services platforms

UMA

Optimistic-based oracle

SynFutures

Decentralized derivatives exchange

ARCx

Decentralized reputation protocol

PoolTogether

Crypto-powered savings protocol

CoinFLEX

Crypto exchange and yield platform

Opyn

DeFi Options Platform

Nervos Network

Layer1 public chain ecosystem based on PoW consensus

Econia

Hyperparallel on-chain orderbook platform

OP3N

Chat, NFTs & Entertainment

Andrena

High-speed Internet provider

OneKey

All-in-one crypto wallet

Renegade

ZK dark pool

Monad

High-performance layer 1 blockchain

Revel

An NFT collecting and trading platform

Utorg

Fiat-to-crypto gateway

Ejara

Cameroonian fintech offering an investment app

Alkimiya

Open-source protocol for consensus capital markets

Orderly Network

Liquidity platform

Spindl

Measurement and attribution in Web3

MetaStreet

Liquidity protocol for NFT credit markets

Blowfish

Crypto firewall provider

Harpie

On-chain firewall

GoldSky

API platform for Web3

Internet Game

The Web3 mini-game battle royale

MetaStable Capital

Crypto hedge fund

Acquired

MetaverseGo

The gateway into the metaverse

Debt DAO

DeFi’s debt marketplace

Quadrata

Web3 passport network

Castle

The smart wallet for NFT collectors

PartyDAO

Decentralized NFT Bidding Organization

Entropy

Decentralized self-custody solution

Skolem Technologies

Providing data and trade execution services for DeFi markets

Kaito

AI-powered research platform for digital assets

Commonwealth

Cross-functional governance and community management platform

Parcl

Real estate derivatives protocol

Metatheory

Web3 interactive media company

Encode Club

Web3 education community

Branch

Building next-gen captivating social games in web3

Cassava Network

Africa’s crypto infrastructure for all online residents

Afriex

Blockchain remittance system

bloXroute

A weapon for front-running DeFi traders

LiquiFi

Enterprise Token Management Solutions

Crusoe Energy

Green energy company

Context

Watching wallets of friends, influencers, DAOs, and celebrities

Blast Royale

Battle Royale game

Trisolaris

Decentralized exchange

Kikitrade

Cryptocurrency Social Investing Platform

AFAR

Decentralized RPC network

ApeX

The Decentralized Derivatives Protocol

Levana Protocol

Perps and Options on Cosmos

DeHorizon

The next generation of metaverse game ecosystems

Juicebox

Programmable funding protocol for builders and creators

Ref Finance

Multi-purpose DeFi platform

Hyperspace

All-in-one NFT platform built on Solana

Everyrealm

Gateway to the metaverse real estate

JPG

Explore and discover Web3’s cultural landscape

CryptoSlam

Multi-chain NFT data aggregator

Socean Finance

Decentralised, algorithmic stake pool

Vibra / African Blockchain Lab

Crypto social trading app

Paradigm

Liquidity network for crypto derivatives traders

Saddle Finance

Decentralized automated market maker

Penumbra

Privacy cross-chain network

Sipher

multiplayer looter shooter ARPG

Taker Protocol

The Fundamental Financial Infrastructure For NFT Ecosystem

Domination Finance

Decentralized exchange for dominance pairs

SZNs

The ultimate tool for NFT collectives

Hedgehog

Crypto robo-advisor

Sense Finance

Fixed income permissionless infrastructure

Element

Muti-chain aggregated NFT marketplace

Showtime

NFT social media network

BENQI

Liquidity market protocol

Numerai

A new kind of hedge fund

Stablehouse

Full service digital assets investment platform

Cozy Finance

DeFi Risk Management Protocol

DerivaDEX

Decentralized derivatives exchange

Lumina

The operating system for digital assets.

Twali

Decentralized marketplace for Web3 freelancers

Variational Research

Global algorithmic market maker focused on digital assets

Questbook

Authorization Management Tool

Burrow

Decentralized lending protocol

TRLab

Art NFT platform

Meta Pool

Liquid Staking Protocol Built on the NEAR Blockchain

Parcel

Tool Suite for DAO

Thesis

Cryptocurrency venture studio

Saffron Finance

Decentralised risk exchange protocol

Lemma Finance

The basis trading protocol

hawku

Marketplace for utility and gaming NFTs

Dora

Multi-chain search engine and explorer

Bribe Protocol

Decentralized governance voter incentive protocol

Paradigm

A Decentralized Relay Protocol

Anchor Protocol

Decentralized money market

CoFiX

On-Chain Market Making

BitWell

Crypto derivatives service platform

RenrenBit

Crypto lending platform

Name	Round	Amount	Valuation	Date
Bitget	Strategic	$ 10 M	--	Apr 04
Econia *	Seed	$ 6.5 M	--	Mar 29
Cega *	--	$ 5 M	--	Mar 27
OP3N	Series A	$ 28 M	$ 100 M	Mar 21
Andrena *	Series A	$ 15 M	--	Feb 28
Kaito *	Seed	$ 5.3 M	$ 40 M	Feb 21
Renegade *	Seed	$ 3.4 M	--	Feb 20
Monad *	Seed	$ 19 M	--	Feb 14
Caldera *	--	$ 9 M	--	Feb 13
Alkimiya	--	$ 7.2 M	--	Jan 12

PRNewswire May 10, 2022

Category:

Crypto-Native Fund

Formerly: Dragonfly Capital

Founded: 2018

Location: --

Investment Overview

36

146

142

50

Investment Size

Cooperations

Coinbase Ventures

32 Rounds

Polychain

16 Rounds

Robot Ventures

12 Rounds

Nascent

12 Rounds

Pantera Capital

11 Rounds

ParaFi Capital

11 Rounds