Dragonfly Capital
Dragonfly Capital is a leading global venture capital firm specializing in cryptocurrency, blockchain, and digital asset investments. Founded in 2018, the firm backs projects across all stages, from early seed and Series A rounds to liquid token investments. Dragonfly Capital’s mission is to support and invest in the most innovative blockchain and Web3 projects, leveraging deep industry expertise, a broad global network, and strategic insights to identify high-potential opportunities that drive long-term value. Since its inception, Dragonfly Capital has deployed over $700 million in investments, including notable stakes in Avalanche, NEAR Protocol, Compound, MakerDAO, 1inch, Matter Labs, Anchorage, and Dune Analytics. The firm is recognized for combining technical due diligence with market insight to empower the next generation of decentralized applications and digital finance platforms.
ABOUT DRAGONFLY CAPITAL
Dragonfly Capital is a leading cross-border cryptocurrency venture fund that connects top participants in the decentralized economy.
As an active player in the Web3 and blockchain ecosystem, Dragonfly partners with visionary teams building foundational infrastructure for the future of finance and technology.
Founded in 2018, Dragonfly Capital has deployed over $700 million across early-stage and growth-stage projects, including Avalanche, NEAR Protocol, Compound, MakerDAO, 1inch, Matter Labs, Anchorage, and Dune Analytics.
The firm has also been an early investor in Amber, Matrixport, BitGo, and Coinbase. In 2022, Dragonfly closed its Fund III at $650 million, oversubscribed and backed by top-tier limited partners, including Tiger Global, KKR, Sequoia China, Ivy League endowments, and sovereign wealth funds.
KEY INVESTMENT AREAS & EXPERTISE
Decentralized Finance (DeFi) – Investing in protocols that reimagine financial services such as lending, borrowing, payments, and liquidity on blockchain networks.
Blockchain Infrastructure – Supporting foundational projects, including scalable Layer‑1 and Layer‑2 chains and data availability protocols, to enable secure, long-term Web3 growth.
Web3 & Layer‑1/Layer‑2 Protocols – Backing innovative blockchain platforms that power next-generation decentralized applications and ecosystems.
Consumer Crypto Products & Applications – Funding consumer-facing Web3 solutions, including crypto games, DAOs, and decentralized social or financial apps.
NFTs, Metaverse & Digital Collectibles – Supporting projects in NFTs, gaming, and the metaverse, fostering on-chain ownership, creator economies, and digital identity.
Liquid Token Investing – Operating a liquid investment fund for publicly tradable crypto tokens, enabling participation in token markets with long-term conviction.
Cross-Border DeFi & Payments – Funding DeFi payments infrastructure for emerging markets, creating decentralized financial tools with real-world utility.
Risk Management & Token Governance – Collaborating with portfolio companies on governance, economic modeling, and incentive alignment to mitigate risk and support sustainable growth.