As a seasoned researcher with a penchant for deciphering the intricacies of the digital asset market, I find Dragonfly Capital’s latest move to raise $500 million for its fourth investment fund quite intriguing. Having closely followed their journey since their inception, it’s evident that they have consistently backed innovative projects in the blockchain space. Their strategic approach to early-stage investments has yielded fruitful results, with a portfolio boasting over 100 companies, including notable ones like Etherna (USDE), Cosmos (ATOM), and Monad Labs.
According to Bloomberg’s report, the well-known cryptocurrency venture capital firm, Dragonfly Capital, is planning to gather approximately $500 million for its fourth investment fund.
The investment fund is committed to nurturing fledgling blockchain initiatives, aligning with Dragonfly’s approach of backing groundbreaking firms. As per a confidential informant who conversed with Bloomberg, the organization has already amassed $250 million and aims to conclude its fundraising by the first quarter of 2025.
It’s important to note that Dragonfly hasn’t openly verified these specific details, but given its significant role in the digital assets sector, it has invested in more than 100 firms. Among these investments are well-known projects like Ethena (USDE), Cosmos (ATOM), and Monad Labs.
Dragonfly’s crypto ventures
Dragonflies have recently supported Agora, a growing initiative in the creation of stablecoins, which has now extended its services to the Sui blockchain. The incorporation of Agora’s stablecoin, AUSD, within Sui is a crucial step towards attracting institutional investors and developers by providing stablecoins that can be utilized across multiple blockchain systems.
During the month of May, Haseeb Qureshi from Dragonfly Capital challenged assertions that venture capitalists were unloading cryptocurrencies. He also voiced doubts about popular explanations for the recent drop in prices of tokens recently listed on Binance, specifically those with high total valuations and low circulating supply. In a May 19 blog post on X, Qureshi addressed these apprehensions and proposed that the market’s sentiment had shifted negatively towards these “risky new coins” due to broader market slumps and geopolitical conflicts in April.
For quite some time, Dragonfly Capital has been vigorously gathering funds for their venture capital activities within the cryptocurrency sector, boasting a history of significant achievements. In the year 2022, this company finalized its third fund, accumulating an impressive $650 million to support fledgling projects, as reported by Bloomberg.
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2024-09-17 19:20