Crypto VC firm Dragonfly raises $650 million despite 'gloom of a bear market'
Crypto venture firm Dragonfly Capital successfully closed a $650 million fourth fund during a market downturn.Summary
Crypto venture firm Dragonfly Capital has secured $650 million for its fourth fund, making it one of the largest raises in the sector despite the current bear market conditions. Managing Partner Haseeb Qureshi acknowledged the prevailing "gloom" but noted that Dragonfly historically raises capital during downturns, which have resulted in their best-performing investments. The new fund targets early-stage projects, and the firm is increasingly focusing its investments on crypto-financial infrastructure, such as stablecoins, tokenization, and on-chain payments, believing these financial use cases are where the sector is currently exploding. Qureshi views this raise as the firm's "biggest bet yet" that the crypto revolution is still in its early, exponential phase.
(Source：CoinDesk)