Dragonfly Capital raises $650 million in third round of funding

Dragonfly Capital is a well-known venture capital firm active in the cryptocurrency sector and has now announced a third round of funding where it aims to raise $650 million. The previous two rounds raised US$100 million in October 2018 and US$200 million in December 2020 respectively.

Tiger Global, KKR, Sequoia China and Invesco are among the participants in the financing round. The US Securities and Exchange Commission was told in January that $500 million would be raised. The actual amount is therefore slightly higher.

The launch of Dragonfly Fund III was accompanied by a commitment to fund projects from seed through Series B indexing rounds. Among other things, there are projects from the areas of DeFi, crypto gaming and Metaversum.

Headquartered in the Cayman Islands, Dragonfly Capital has previously participated in the funding rounds of 54 projects, including Avalanche's private token sale in June 2020, raising $12 million, and Dune Analytics ' seed funding in September 2020, raising $2 million, and Dydx's Art series funding round in October 2018, raising $10 million.

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