Today Dragonfly Capital, the cryptocurrency venture fund, said it has raised a third $650 million fund, including from KKR, Invesco, and Tiger Global. Other investors include Sequoia China, Ivy League endowments, Top Tier Capital Partners, and a Southeast Asian state-owned investment company.
The firm’s managing partner is Haseeb Qureshi, one of the thought leaders in the sector. Previous funds have invested in what are now leading players in the industry, particularly in decentralized finance (DeFi) such as Compound and Maker.
However, it has invested across a wide range of sub sectors such as exchanges (Bybit, 1nch), custody (Anchorage), layer one blockchain protocols such as Avalanche and Near as well as numerous tools companies.
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