Dragonfly Capital Raises $650M for Third Crypto Fund

[Mic Drop]

Dragonfly Capital, a well-known crypto venture capital firm founded in 2018 by Bo Feng and Alexander Pack, has announced its third fundraising round valued at  $650 million. Tiger Global, KKR, Sequoia China, and Invesco were among the investors in the $650 million round

According to Qureshi, Managing Partner at Dragonfly, the new fund will focus on the new wave of crypto entrepreneurs who are forming in web3 and other more fledgling areas of the market. Qureshi believes that most web3 entrepreneurs need investors and their guidance to participate in token economics, go-to-market, product strategy, and hiring.

According to Qureshi,

“That's why Dragonfly is often the first port of call for these entrepreneurs—unlike many of the generalist VCs, we've been doing this for many years now, we've backed many of the generational protocols and companies in this space, and we've seen the whole journey from seed to multi-billion dollar outcomes,

Dragonfly has invested in a wide range of companies, including blockchains like Terra and Near and financial services like Matrixport and Paradigm.

https://www.theblockcrypto.com/post/143633/multiple-ivy-league-universities-kkr-back-dragonflys-new-650-million-fund/