Dragonfly Capital Partners

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  • Strong presence in China / Asia


  • 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."


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


  • 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.