Dragonfly Capital Eyes $500M Fund IV for Early-Stage Crypto Projects
The post Dragonfly Capital Eyes $500M Fund IV for Early-Stage Crypto Projects appeared on BitcoinEthereumNews.com.
According to a person familiar with the matter, crypto venture capital firm Dragonfly Capital is targeting to raise $500 million for its fourth fund, which will be mainly invested in projects at an early stage. Based in San Francisco, Dragonfly Capital has already raised internally $250 million and plans to finish the fundraising in the first quarter of next year. The details are private, and Dragonfly hasn’t made any comment on the matter. Dragonfly Capital Seeking $500M The firm’s move also follows other crypto VC funds, including Robot Ventures and Paradigm, in chasing investment after the industry emerged from trials it faced two years ago. Dragonfly’s fundraising comes against a contentious U.S. presidential election in which one of the candidates, Donald Trump, has declared he intends to support the sector if re-elected. If all goes well, however, Dragonfly Capital has invested in more than 100 digital asset companies and projects, including Ethena, Cosmos, and Monad Labs, according to its website. Two years ago, the firm closed its third fund, which raised $650 million. Crypto Experts Analyze SOL Surge: Is it a Real Threat to Ethereum? Recently, some crypto experts chimed in with their thoughts on the ongoing crash of the market. These include: Haseeb Qureshi, Managing Partner at Dragonfly; Tom Schmidt, General Partner at Dragonfly Capital; Robert Leshner, CEO & Co-founder of Superstate; and Tarun Chitra, Managing Partner at Robot Ventures. While Solana’s first month saw stellar DEX volumes above Ethereum, it still has a long way to go in terms of venture capital investment. That is to say, the few successes of Solana remained within its own ecosystem or, at best, in the so-called meme coins, as opposed to in DeFi applications where Ethereum remains supreme. Comparing the two, Solana still boasts highly active network activity, while its capital…
Filed under: News - @ September 18, 2024 1:26 am