Dragonfly Raises $250M to Invest in Crypto
CryptoNewsTerminal Staff17 Sep, 2024
Dragonfly Raises $250M to Invest in Crypto
Crypto venture capital firm Dragonfly is raising a $500 million fund, according to Bloomberg. The firm has raised $250 million so far and expects to close the fund by the first quarter of next year, the people said. Dragonfly has backed more than 100 crypto companies and projects, including Ethereum and Cosmos. The new fund will be used to invest in early-stage crypto companies and projects. Dragonfly is particularly interested in companies that are building infrastructure for the crypto economy, as well as companies that are developing new applications for blockchain technology. Dragonfly's investment strategy has been successful in the past. The firm has generated a portfolio that is worth more than $1 billion. The firm's investments have also helped to accelerate the development of the crypto ecosystem.
