Difference between revisions of "Dragonfly Capital Partners"

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== Investments ==
== Investments ==
*According to this [https://twitter.com/ThorHartvigsen/status/1626204769189605377 thread] (16-2-2023):
''"Total Balance $90.4m • $46m $[[Lido (LDO)|LDO]] • $13.3m $[[The Open Network (TON)|TON]] • $10.6m $[[Polygon (MATIC)|MATIC]] • $7m $[[FXS]] • $6.7m $[[Aave (AAVE)|AAVE]] • $2.5m $[[RBN]] • $1.4m $[[DYdX (DYDX)|DYDX]] Other notable investments include [[NEAR (NEAR)|Near]], [[Cosmos (ATOM)|Cosmos]], [[Mina (MINA)|Mina]], [[zkSync]] and more."''
*[https://twitter.com/CoinDesk/status/1519270860468756480 Raised $650] million for its third fund (27-4-2022).
*[https://twitter.com/CoinDesk/status/1519270860468756480 Raised $650] million for its third fund (27-4-2022).
*[https://twitter.com/TheBlock__/status/1375508157561069569 Launched] a new $225 million fund to invest in [[DeFi]], [[NFT]], and more projects (27-3-2021).
*[https://twitter.com/TheBlock__/status/1375508157561069569 Launched] a new $225 million fund to invest in [[DeFi]], [[NFT]], and more projects (27-3-2021).
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*[[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).
*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)
*[[BitDAO]]; part of their [https://decrypt.co/73806/peter-thiel-leads-230-million-funding-round-for-bitdao?utm_source=telegram&utm_medium=social&utm_campaign=smt $230M private funding] round (17-6-2021).
*[[BitDAO]]; part of their [https://decrypt.co/73806/peter-thiel-leads-230-million-funding-round-for-bitdao?utm_source=telegram&utm_medium=social&utm_campaign=smt $230M private funding] round (17-6-2021).
*[[Burrow]]; on [[NEAR (NEAR)|NEAR]], it [https://messari.io/report/state-of-near-q4-2022 has] investors such as Jumpy Crypto, Dragonfly, Parafi, and others.
*Coinmetrics. Invested in [[Coinmetrics]]
*Coinmetrics. Invested in [[Coinmetrics]]
* CoFix. Dragonfly [https://medium.com/dragonfly-research/introducing-cofix-a-next-generation-amm-199aea686b6b is] an investor in [[CoFix]] (7-10-2020).
* CoFix. Dragonfly [https://medium.com/dragonfly-research/introducing-cofix-a-next-generation-amm-199aea686b6b is] an investor in [[CoFix]] (7-10-2020).
* Cozy Finance. Part of a [https://medium.com/@cozyfinance/introducing-cozy-finance-8af86e0ded41 $2M raise] for [[Cozy Finance]] (3-9-2020).
* Cozy Finance. Part of a [https://medium.com/@cozyfinance/introducing-cozy-finance-8af86e0ded41 $2M raise] for [[Cozy Finance]] (3-9-2020).
* DerivaDEX. Is [https://medium.com/derivadex/introducing-derivadex-a-next-generation-decentralized-exchange-for-derivatives-62cc0ab8ee7d one of the backers] in a $2.7M raise for [[DerivaDEX]] (2-7-2020).
* [[Debt DAO]]; Dragonfly Capital lead [https://twitter.com/theblock__/status/1553876020452884481 $3.5 million seed round] for Debt DAO (1-8-2022).
*DerivaDEX. Is [https://medium.com/derivadex/introducing-derivadex-a-next-generation-decentralized-exchange-for-derivatives-62cc0ab8ee7d one of the backers] in a $2.7M raise for [[DerivaDEX]] (2-7-2020).
* [[Dune]] Analytics. [https://medium.com/@tomhschmidt/1f7a5891375b Was] the lead investor in a $2M round for [[Dune Analytics]] (23-9-2020). Participated once more in the [https://decrypt.co/78321/ethereum-data-firm-dune-analytics-raises-8m?utm_source=telegram&utm_medium=social&utm_campaign=smt $8M round] (12-8-2021).
* [[Dune]] Analytics. [https://medium.com/@tomhschmidt/1f7a5891375b Was] the lead investor in a $2M round for [[Dune Analytics]] (23-9-2020). Participated once more in the [https://decrypt.co/78321/ethereum-data-firm-dune-analytics-raises-8m?utm_source=telegram&utm_medium=social&utm_campaign=smt $8M round] (12-8-2021).
* [[Dydx|dydX]]. [https://medium.com/dydxderivatives/dydx-raises-10m-series-a-1250b7e0e1df?ref=tokendaily&ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=10f74de992&mc_eid=b9fac0945e Participated] in a $10M Series A round investing in [[dYdX]]
* [[Dydx|dydX]]. [https://medium.com/dydxderivatives/dydx-raises-10m-series-a-1250b7e0e1df?ref=tokendaily&ct=t(RSS_EMAIL_CAMPAIGN)&mc_cid=10f74de992&mc_eid=b9fac0945e Participated] in a $10M Series A round investing in [[dYdX]].
 
*Gauntlet/ Is an investor in [[Gauntlet]], according to their [https://gauntlet.network/about/ website] (19-10-2020).
* Gauntlet/ Is an investor in [[Gauntlet]], according to their [https://gauntlet.network/about/ website] (19-10-2020).
*[[Gelato Network (GEL)|Gelato]]; part of their [https://cointelegraph.com/news/gelato-raises-11m-from-heavyweight-backers-for-web-3-automation $11M raise] (8-10-2021).
*[[Gelato Network (GEL)|Gelato]]; part of their [https://cointelegraph.com/news/gelato-raises-11m-from-heavyweight-backers-for-web-3-automation $11M raise] (8-10-2021).
*[[FIAT DAO (FIAT)|FIAT DAO]]; part of their [https://medium.com/fiat-dao/fiat-dao-raises-2m-seed-round-to-empower-defi-fixed-income-4844134636ed $2M raise] (16-10-2021).
*[[FIAT DAO (FIAT)|FIAT DAO]]; part of their [https://medium.com/fiat-dao/fiat-dao-raises-2m-seed-round-to-empower-defi-fixed-income-4844134636ed $2M raise] (16-10-2021).
*[[Frax Finance (FRAX)|Frax]]; part of their [https://medium.com/dragonfly-research/a-visual-explanation-of-frax-bcce72c1730f strategic round] (16-7-2021).
*[[Frax Finance (FRAX)|Frax]]; part of their [https://medium.com/dragonfly-research/a-visual-explanation-of-frax-bcce72c1730f strategic round] (16-7-2021).
*[[Hashflow (HFT)|Hashflow]]; was [https://messari.io/report/hashflow-certainty-in-execution part of] their seed and Series A rounds (4-2021 and 7-2022).
*[[Maker]], from [https://www.coindesk.com/dragonfly-capital-paradigm-buy-27-5m-stake-in-governing-makerdaos-future this] [[CoinDesk]] article (19-12-2019):
*[[Maker]], from [https://www.coindesk.com/dragonfly-capital-paradigm-buy-27-5m-stake-in-governing-makerdaos-future this] [[CoinDesk]] article (19-12-2019):
''"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 [[On-Chain Governance|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."''
''"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 [[On-Chain Governance|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."''
* [[Matter Labs]]. [https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad Has] (27-1-2020)  [https://matter-labs.io/ Matter Labs] in their portfolio. P[https://medium.com/matter-labs/leading-defi-projects-and-exchanges-invest-to-bring-solidity-to-zksync-9a3df978f824 articipated] in an undisclosed round for [[zkSync]] (1-3-2021). And again in the [https://medium.com/matter-labs/funding-ea89c1fa731e Series B] of $50m (8-11-2021).
* [[Matter Labs]]. [https://medium.com/dragonfly-research/the-life-and-death-of-plasma-b72c6a59c5ad Has] (27-1-2020)  [https://matter-labs.io/ Matter Labs] in their portfolio. P[https://medium.com/matter-labs/leading-defi-projects-and-exchanges-invest-to-bring-solidity-to-zksync-9a3df978f824 articipated] in an undisclosed round for [[zkSync]] (1-3-2021). And again in the [https://medium.com/matter-labs/funding-ea89c1fa731e Series B] of $50m (8-11-2021). Again in the [https://decrypt.co/114774/matter-labs-raises-200m-scale-ethereum-zksync-solution Series C] (16-11-2022).
*[[Mina (MINA)|Mina]]; [https://minaprotocol.com/about mentioned] as one of its backers (31-3-2021).
*[[Mina (MINA)|Mina]]; [https://minaprotocol.com/about mentioned] as one of its backers (31-3-2021).
*[[Nebulous]] ([[SiaCoin (SC)|Sia]]) [https://www.coindesk.com/sia-network-raises-3-5-million-from-bain-capital-to-become-crypto-hulu closed] a $3.5 million pre–Series A round led by [[Bain Capital Ventures]], along with participants like [[Bessemer Venture Partners]] and Dragonfly Capital Partners.
*[[Nebulous]] ([[SiaCoin (SC)|Sia]]) [https://www.coindesk.com/sia-network-raises-3-5-million-from-bain-capital-to-become-crypto-hulu closed] a $3.5 million pre–Series A round led by [[Bain Capital Ventures]], along with participants like [[Bessemer Venture Partners]] and Dragonfly Capital Partners.
* Nervos Network. [https://messari.io/asset/nervos-network/profile Invested] in [[Nervos Network (CKB)|Nervos Network]] (22-1-2020)
* Nervos Network. [https://messari.io/asset/nervos-network/profile Invested] in [[Nervos Network (CKB)|Nervos Network]] (22-1-2020)
 
*Nest. Dragonfly [https://medium.com/dragonfly-research/introducing-cofix-a-next-generation-amm-199aea686b6b holds] a position in [[Nest Protocol (NEST)|Nest]], which is used by CoFix (7-10-2020).
* Nest. Dragonfly [https://medium.com/dragonfly-research/introducing-cofix-a-next-generation-amm-199aea686b6b holds] a position in [[Nest Protocol (NEST)|Nest]], which is used by CoFix (7-10-2020).
* [[Numerai]]. Was a [https://www.theblockcrypto.com/post/67223/numerai-3-million-token-sale-staking-protocol?utm_source=rss&utm_medium=rss purchaser] of tokens in the second [[Numeraire (NMR)|Numerai]] token sale (3-6-2020).
* [[Numerai]]. Was a [https://www.theblockcrypto.com/post/67223/numerai-3-million-token-sale-staking-protocol?utm_source=rss&utm_medium=rss purchaser] of tokens in the second [[Numeraire (NMR)|Numerai]] token sale (3-6-2020).
*[[Oasis Network (ROSE)|Oasis Network]]; one of the [https://medium.com/oasis-protocol-project/introducing-the-160-million-oasis-ecosystem-fund-e53d384ee386 contributors] to the $160m Ecosystem Fund (17-11-2021)
*[[Oasis Network (ROSE)|Oasis Network]]; one of the [https://medium.com/oasis-protocol-project/introducing-the-160-million-oasis-ecosystem-fund-e53d384ee386 contributors] to the $160m Ecosystem Fund (17-11-2021)
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* Paradigm Labs. [https://www.coindesk.com/the-crypto-protocol-trying-to-unite-every-exchange-order-book Participated]  a $1M [[seed]] round for [[Paradigm Labs]] in 2018, but as of 3-2020 Paradigm Labs [https://www.coindesk.com/paradigm-labs-shuts-down-says-it-was-too-early-for-defi-boom has closed down].
* Paradigm Labs. [https://www.coindesk.com/the-crypto-protocol-trying-to-unite-every-exchange-order-book Participated]  a $1M [[seed]] round for [[Paradigm Labs]] in 2018, but as of 3-2020 Paradigm Labs [https://www.coindesk.com/paradigm-labs-shuts-down-says-it-was-too-early-for-defi-boom has closed down].
* ParaFi. Is a [https://blog.bancor.network/parafi-invests-in-bnt-to-advance-bancor-protocol-growth-7f79fab40c81 backer] of [[ParaFi]] (20-8-2020).
* ParaFi. Is a [https://blog.bancor.network/parafi-invests-in-bnt-to-advance-bancor-protocol-growth-7f79fab40c81 backer] of [[ParaFi]] (20-8-2020).
*[[Ref Finance (REF)|Ref Finance]]; [https://messari.io/report/state-of-near-q4-2022 according] to [[Messari]], they are one of the notable investors (30-1-2023).
*[[Saddle]]; is mentioned as an investor on Saddle's [https://saddle.finance/ website] (17-6-2021).
*[[Saddle]]; is mentioned as an investor on Saddle's [https://saddle.finance/ website] (17-6-2021).
*[[Saffron Finance]]; is [https://medium.com/saffron-finance/new-partners-join-saffron-finance-ecosystem-as-billions-in-yield-generating-assets-migrate-from-27059982f997 mentioned] as a strategic partner (8-3-2021).
*[[Saffron Finance]]; is [https://medium.com/saffron-finance/new-partners-join-saffron-finance-ecosystem-as-billions-in-yield-generating-assets-migrate-from-27059982f997 mentioned] as a strategic partner (8-3-2021).
*Sia. Participated in a [https://www.theblockcrypto.com/linked/78609/sia-tech-raises-3-million-free-internet-skynet $3M raise] for [[Sia]] (23-9-2020).
*Sia. Participated in a [https://www.theblockcrypto.com/linked/78609/sia-tech-raises-3-million-free-internet-skynet $3M raise] for [[Sia]] (23-9-2020).
* [[StarkWare|Starkware]]. [https://medium.com/dragonfly-research/haseeb-joins-dragonfly-capital-9505b1f57369 Invested] in [[Starkware]]
* [[Shima Capital]]; they got some of their seed money for their [https://www.coindesk.com/business/2022/08/17/bill-ackman-among-investors-as-venture-capital-crypto-firm-shima-capital-raises-200m-fund/ first $200M fund] from here (17-8-2022).
*[[StarkWare|Starkware]]. [https://medium.com/dragonfly-research/haseeb-joins-dragonfly-capital-9505b1f57369 Invested] in [[Starkware]]
*[[TokenTerminal]]; they mention this as one of their 'community members' ([https://tokenterminal.com/ 1-8-2022]), however, due to the nature of the ones named, we can assume these are investors.
*zkSync; due to the investment in Matter Labs, it can be expected that they also will own future zkSync token allocations.
== Other ==
== Other ==
* Has Dragonfly Research; which publishes articles about [[blockchain]] tech.   
* Has Dragonfly Research; which publishes articles about [[blockchain]] tech.   
* In 11-2019 Ivan [https://github.com/bogatyy/grin-linkability published] an [https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52?source=collection_home---4------0----------------------- article] about privacy 'failures' in [[Grin]]. The Grin team [https://coinspice.io/news/ackshually-mimblewimble-devs-respond-to-dragonfly-research-attack-claims-of-being-fundamentally-flawed/ wrote back]. And in the end [[CoinDesk]] [https://www.coindesk.com/whats-really-private-in-crypto-research-on-grin-raises-questions wrote about it], detailing both sides arguments.  
* In 11-2019 Ivan [https://github.com/bogatyy/grin-linkability published] an [https://medium.com/dragonfly-research/breaking-mimblewimble-privacy-model-84bcd67bfe52?source=collection_home---4------0----------------------- article] about privacy 'failures' in [[Grin]]. The Grin team [https://coinspice.io/news/ackshually-mimblewimble-devs-respond-to-dragonfly-research-attack-claims-of-being-fundamentally-flawed/ wrote back]. And in the end [[CoinDesk]] [https://www.coindesk.com/whats-really-private-in-crypto-research-on-grin-raises-questions wrote about it], detailing both sides arguments.  
* [https://medium.com/dragonfly-research/ethereum-is-now-unforkable-thanks-to-defi-9818b967738f?source=collection_home---4------2----------------------- Wrote a story] (31-10-2019) about how [[DeFi]] might have made [[Ethereum]] 'unforkable'   
* [https://medium.com/dragonfly-research/ethereum-is-now-unforkable-thanks-to-defi-9818b967738f?source=collection_home---4------2----------------------- Wrote a story] (31-10-2019) about how [[DeFi]] might have made [[Ethereum]] 'unforkable'   
*Haseeb [https://decrypt.co/121647/key-takeaways-sec-lawsuit-terra claimed] he knew that Terra was lying about the Chai numbers (2-2023): 
''”I was surprised by how egregious this was. People at Terraform Labs knew it was bullshit.”''


== Team ==
== Team ==

Revision as of 03:59, 27 March 2023

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.