Dragonfly Capital has announced the closing of its $650 million Fund IV, focusing on stablecoins, decentralized finance, and prediction markets.
Dragonfly Capital, a crypto venture capital firm, has closed its Fund IV at $650 million, to focus on DeFi, stablecoins and prediction markets, despite stagnant prices and a mildly down market.
Haseeb Qureshi, managing partner at Dragonfly Capital, announced in an X post today, Feb. 17, that Fund IV is the firm’s “biggest bet yet that the crypto revolution is still early in its exponential.” Qureshi added:
Dragonfly Capital’s approach during market downturns is not new. The firm has raised capital during previous challenging periods, such as the 2018 ICO winter and prior to the Luna collapse, Qureshi added.
The firm’s first fund in 2018 closed at roughly $100 million during the ICO downturn, followed by a $225 million Fund II in 2021, and a $650 million Fund III in 2022 — overshooting an initial $500 million target — just before the market’s prolonged downturn.
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Source: https://thedefiant.io/news/defi/dragonfly-capital-raises-usd650m-for-fund-iv
