Dragonfly Capital launches $225 million cryptocurrency fund

Cryptocurrency Fund Dragonfly Capital has announced the launch of a new fund worth $225 million to invest in projects across the cryptocurrency space. This was reported by Bitcoinist on the 27th (local time).

‘Dragonfly Fund II’ is a $100 million fund kick that started at the end of 2018, followed by a successful decentralized finance (DeFi) protocol, a non-replaceable token (NFT) project, an Ethereum layer 2 based business, and centralized finance. It targets four potential areas including the (CeFi) platform.

San Francisco-based Venture Capital Fund was an early sponsor of notable projects such as Bybit, Compound, Cello, and Maker. While much of Dragonfly Capital’s past investments have been concentrated in the DeFi space, it is clear that the fund is looking for new opportunities as the cryptocurrency space continues to evolve rapidly.

In a blog post, they admitted the risk of betting on high volatility and bubble spaces like the NFT. This year, as the cryptocurrency rebounded to an all-time high, the industry gained popular popularity, and the NFT is pandemic. Aboard the new wave of NFTs, digital marketplace OpenSea raised $23 million from Series C funds earlier this month.

However, once the novelty disappears, it is unclear whether the industry will continue to grow parabolic. Despite these concerns, Dragonfly Capital has repeatedly stressed that “there is the potential for these emerging spaces to be an important component of the digital future.”

Venture capital giant Sequoia will sponsor the fund as a strategic limited liability partner with OKEX, Huobi, Bitmain, and Bybit. “We are in an amazing position to help integrate and drive the cryptocurrency movement, with many of the tech and cultural leaders from US tech companies and VCs,” said Hasseb Qureshi, Managing Partner at Dragonfly Capital.

See also  Bitberry Finance Announced New Strategic Investments from AU21, SL2 & Inclusion Capital

(Crypto fund DragonFly Capital announced the launch of a new $225 million fund to invest in projects across the crypto space.)

[Coincode (coincode.kr), please share easily and leave only the source. ]

※ It is revealed that all posts in Coincode’s one-person blog are paraphrased & referenced from overseas news, not coincode’s opinions. Coin codes are not based on facts! Just move it! Please use it for reference only. It was a bit slow, a slow news messenger coin code! For quick news, use each coin’s Twitter!

The post Dragonfly Capital, release 2.25 one hundred million US dollars cryptocurrency fund appeared first on the coin code .

Disclaimer: The content of the “Coin Code Spot” section is one source that is provided after translation into Korean or English, and is composed based on a reliable reporter, but it does not mean that the information has been confirmed. We cannot provide opinions, etc. Faster and faster breaking news of various foreign media is available at’coincode.kr’ .


Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.