Dragonfly Capital Seeks $500M for New Crypto Fund

Venture capital firm Dragonfly Capital is aiming to raise $500 million for its fourth crypto fund, according to a Bloomberg report from September 17.

The fund has already secured $250 million, reaching the halfway point of its goal. The firm anticipates completing the fundraising by early 2025.

The new fund will target early-stage investments in cryptocurrency and blockchain projects. Dragonfly has previously invested in over 100 digital asset ventures, including Ethena, Andrena, Cosmos, and Monad Labs. Its third fund, closed in 2022, was valued at $650 million.

The rise in venture capital activity in the crypto sector reflects a broader trend, spurred by the January approval of Bitcoin exchange-traded funds (ETFs) in the U.S. Pantera Capital is also raising $1 billion for its Pantera Fund V, targeting a wide range of blockchain assets.

READ MORE:

Russia Tests Crypto Payments for Trade Amid Western Sanctions

Paradigm, another major player, recently secured $850 million for its third fund, which will invest in early-stage blockchain projects, following its $2.5 billion fund raised in 2021.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.