Difference between revisions of "Dragonfly Capital Partners"

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*[[Anchor (ANC)|Anchor]]; [[Do Kwon]] mentioned them as part of a [https://twitter.com/d0h0k1/status/1371738421559914496 $20M raise], calling the participants the '[[Anchor]] [[Whale|whales]]' (16-3-2021). However, by the time UST depegged on the 9th of May 2022, it was quick to claim it had no exposure to [[Terra (LUNA)|LUNA]] ([https://twitter.com/Darrenlautf/status/1524391126509056000?s=20&t=JB--ijgh_DLp-QaS3m8uWQ 11-5-2022]).
*[[Anchor (ANC)|Anchor]]; [[Do Kwon]] mentioned them as part of a [https://twitter.com/d0h0k1/status/1371738421559914496 $20M raise], calling the participants the '[[Anchor]] [[Whale|whales]]' (16-3-2021). However, by the time UST depegged on the 9th of May 2022, it was quick to claim it had no exposure to [[Terra (LUNA)|LUNA]] ([https://twitter.com/Darrenlautf/status/1524391126509056000?s=20&t=JB--ijgh_DLp-QaS3m8uWQ 11-5-2022]).
*[[ARC (ARCx)|ARC]]; part of a [https://arcx.substack.com/p/introducing-arcx-sapphire-v3?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNzA5MTQxNiwiXyI6IitrN3VtIiwiaWF0IjoxNjIzMDQ3ODczLCJleHAiOjE2MjMwNTE0NzMsImlzcyI6InB1Yi0yMzI0NTUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.u5aAAbXcRv3gj6VaPao06_7W $1.5M] raise (2-6-2021).
*[[ARC (ARCx)|ARC]]; part of a [https://arcx.substack.com/p/introducing-arcx-sapphire-v3?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNzA5MTQxNiwiXyI6IitrN3VtIiwiaWF0IjoxNjIzMDQ3ODczLCJleHAiOjE2MjMwNTE0NzMsImlzcyI6InB1Yi0yMzI0NTUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.u5aAAbXcRv3gj6VaPao06_7W $1.5M] raise (2-6-2021).
*[[Avail]]; part of the [https://twitter.com/AvailProject/status/1762114101881537009 $27M seed round] (26-2-2024)
*[[Avail]]; part of the [https://twitter.com/AvailProject/status/1762114101881537009 $27M seed round] (26-2-2024) also led the $43 million in its [https://x.com/AvailProject/status/1797978214284808610 Series A] funding round (4-6-2024)
*Avalanche. [https://medium.com/avalabs/avalanche-raises-12m-in-private-token-sale-led-by-initialized-galaxy-bitmain-ngc-and-dragonfly-96e5ae2cf6e Participated] (25-6-2020) in a $12M private sale of [[Avalanche (AVAX)|Avalanche]].
*Avalanche. [https://medium.com/avalabs/avalanche-raises-12m-in-private-token-sale-led-by-initialized-galaxy-bitmain-ngc-and-dragonfly-96e5ae2cf6e Participated] (25-6-2020) in a $12M private sale of [[Avalanche (AVAX)|Avalanche]].
*[[Axelar Network (AXL)|Axelar]]; was part of one of their 3 financing rounds ([https://blog.coinlist.co/the-state-of-axelar-the-stripe-of-web3/ 1-9-2022]). Also part of their $60M ecosystem fund (19-12-2022)
*[[Axelar Network (AXL)|Axelar]]; was part of one of their 3 financing rounds ([https://blog.coinlist.co/the-state-of-axelar-the-stripe-of-web3/ 1-9-2022]). Also part of their $60M ecosystem fund (19-12-2022)

Latest revision as of 02:39, 12 June 2024

Basics

  • Strong presence in China / Asia

Investments

  • According to this thread (16-2-2023):

"Total Balance $90.4m • $46m $LDO • $13.3m $TON • $10.6m $MATIC • $7m $FXS • $6.7m $AAVE • $2.5m $RBN • $1.4m $DYDX Other notable investments include Near, Cosmos, Mina, zkSync and more."

  • Raised $650 million for its third fund (27-4-2022).
  • Launched a new $225 million fund to invest in DeFi, NFT, and more projects (27-3-2021).
  • Portfolio consists (as of 2-12-2019) of the following:

Amber, Anchorage, Celo, Coda, Coin Metrics, CoinFLEX, Compound, Cosmos, Crusoe, dY/dX, ErisX, Lumina, MobileCoin, Nuo, Oasis Labs, RenrenBit, Sia, Spacemesh, Tagomi and Uma

"Venture funds Dragonfly Capital and Paradigm have acquired $27.5 million worth of MKR tokens and plan to take part in the Maker Protocol's governance system. Announced Thursday by the Maker Foundation, the $27.5 million raised will fund the foundation's efforts to promote dai adoption in China and the broader Asia region. It's expected Dragonfly and Paradigm, who already have a strong presence in the region, will advise on the expansion. The joint purchase means Dragonfly and Paradigm now control approximately 5.5 percent of the total MKR token supply. Combined, the acquisition makes Dragonfly and Paradigm the second-largest private holder of MKR tokens. VC firm Andreessen Horowitz remains the single largest private holder with the 6 percent stake it acquired in September 2018."

Other

”I was surprised by how egregious this was. People at Terraform Labs knew it was bullshit.”

Team

  • Ivan Bogatyy; Dragonfly Research
  • Haseeb Qureshi; Managing Partner. Since 2-10-2019 "Haseeb first came onto our radar while he was a General Partner at MetaStable, the oldest and premier technology-focused, fundamentals-driven cryptofund. MetaStable was our first investment at Dragonfly and we’ve worked with them since 2015 when I was a partner at AngelList under Naval Ravikant, the firm’s founder. Dragonfly has co-invested with Haseeb many times in projects like Coda, Spacemesh, and Starkware that"
  • Alex Pack; founding member, left to work at Huobi.