{"id":60704,"date":"2022-04-27T17:04:12","date_gmt":"2022-04-27T14:04:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60704"},"modified":"2025-09-05T04:51:47","modified_gmt":"2025-09-05T01:51:47","slug":"dragonfly-capital-launches-650-million-fund-focused-on-web-3-0","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dragonfly-capital-launches-650-million-fund-focused-on-web-3-0\/","title":{"rendered":"Dragonfly Capital launches $650 million fund focused on Web 3.0"},"content":{"rendered":"<p>The investment firm Dragonfly Capital has launched a new venture fund with $650 million in capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gm anons! <\/p>\n<p>We&#8217;re launching Dragonfly Fund III, a $650M crypto venture fund\u2014our largest fund ever.<\/p>\n<p>With this new fund, we&#8217;ll be be backing founders all across their lifecycle in crypto. <\/p>\n<p>Excited to be a small part of the next chapter of this industry.<a href=\"https:\/\/t.co\/YuN5oz1v9v\">https:\/\/t.co\/YuN5oz1v9v<\/a><\/p>\n<p>\u2014 Haseeb Qureshi (@hosseeb) <a href=\"https:\/\/twitter.com\/hosseeb\/status\/1519274267820576769?ref_src=twsrc%5Etfw\">April 27, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The fund will focus on Web 3.0 application developers. A company spokesperson told CoinDesk in a statement that, with its launch, Dragonfly Capital&#8217;s assets had reached roughly $3 billion.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;This new generation of entrepreneurs has a lot of energy and enthusiasm for a decentralized future,&#8221; said Haseeb Qureshi, managing partner of the firm.<\/p>\n<\/blockquote>\n<p>The round was supported by Tiger Global and KKR. According to <a href=\"https:\/\/www.theblockcrypto.com\/post\/143633\/multiple-ivy-league-universities-kkr-back-dragonflys-new-650-million-fund\">The Block<\/a>, several Ivy League university endowments also participated. The firm declined to disclose their names.<\/p>\n<p>Dragonfly Capital&#8217;s investment portfolio includes Avalanche, Near Protocol, MakerDAO, Matter Labs and other projects.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;From the very beginning we supported founders at the earliest stages and did so at later stages as well. We did not always have the resources [\u2026]. With Fund III we can support teams throughout their lifecycle and new founders as their companies mature,&#8221; explained Tom Schmidt, managing partner of Dragonfly Capital.<\/p>\n<\/blockquote>\n<p>Earlier, venture firm White Star Capital <a href=\"https:\/\/u1f987.com\/en\/news\/white-star-capital-launches-a-150-million-fund-for-web3-investments\">raised $150 million<\/a> for its second fund, focused on investments in crypto networks, Web3-based startups, DeFi, and blockchain gaming.<\/p>\n<p>In April 2022, the company behind the Ethereum-based exchange Uniswap, Uniswap Labs <a href=\"https:\/\/u1f987.com\/en\/news\/uniswap-labs-launches-venture-arm-for-web-3-0-investments\">created a venture arm<\/a> to invest in Web 3.0.<\/p>\n<p>In January, media reported plans by venture firm Andreessen Horowitz <a href=\"https:\/\/u1f987.com\/en\/news\/media-reports-that-a16z-plans-to-raise-4-5-billion-across-two-new-crypto-funds\">to raise up to $4.5 billion<\/a> for two new crypto funds.<\/p>\n<p>In March 2021, Dragonfly Capital opened <a href=\"https:\/\/u1f987.com\/en\/news\/dragonfly-capital-launches-225-million-fund-to-back-nft-and-defi-investments\">a $225 million fund<\/a> to invest in NFT and DeFi with the participation of Sequoia China.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\">YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investment firm Dragonfly Capital has launched a new venture fund with $650 million in capital.<\/p>\n","protected":false},"author":1,"featured_media":60705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2308,1133],"class_list":["post-60704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dragonfly-capital","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60704"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60704\/revisions"}],"predecessor-version":[{"id":60706,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60704\/revisions\/60706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60705"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}