<span style="font-weight: 400">According to a company spokeswoman, Dragonfly Capital has closed its third fund with $650 million in the capital, bringing its total assets under management to roughly $3 billion. The fund will invest in blockchain and crypto startups at all phases of development to create "new digital economies." Global investment behemoths Tiger Global, KKR, and Sequoia China, were among the limited partners.</span>

https://twitter.com/CoinDesk/status/1519270860468756480

<span style="font-weight: 400">The $300 million raised in the firm's previous two funds combined has more than doubled in the new Dragonfly Ventures III fund. The new fund's size puts Dragonfly in the same league as Sequoia Capital and Bain Capital. Both recently announced roughly $600 million crypto commitments, demonstrating that the venture capital fervour that fueled record-high fund sizes last year hasn't calmed down.</span>
<h2><span style="font-weight: 400">Dragonfly Investments</span></h2>
<span style="font-weight: 400">Dragonfly has invested in around 60 firms through two previous funds, which raised $100 million and $225 million, respectively, in 2018 and 2021. Dragonfly intends to invest in blockchain and crypto-native firms, protocols, and currencies at all phases of development. Avalanche, a smart contracts platform, Near Protocol, MakerDAO, and Matter Labs, a layer one blockchain platform, are among the companies Dragonfly Capital has invested in since its inception in 2018.</span>

Dragonfly Capital Has Raised $650 Million For Its Third Cryptocurrency Fund

Dragonfly Capital has closed its third fund with $650 million in the capital, bringing its total assets under management to roughly $3 billion.

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Dragonfly Capital Has Raised $650 Million For Its Third Cryptocurrency Fund

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