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Dragonfly Capital to Invest in Crypto with $100 Million Fund

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Dragonfly Capital

Dragonfly Capital just raised $100 million to invest in cryptocurrency funds.

Bullish on Asia

In fact, co-founders Alex Pack and Bo Feng will invest in companies that have users or appeal in Asia.

“The biggest users of crypto are in Asia, not the U.S.,” Pack said, as quoted by Axios, adding “that it’s because they can help facilitate services like banking that are harder to access outside the U.S. and Europe.”

Dragonfly believes it has identified significant market opportunity to bridge a gap between the East and West, for instance. They also believe they can bring together companies across geographies.

Dragonfly will Invest in Three Types of Assets

For example, these will include crypto-native funds, protocols and applications.  In addition, they’ll invest in startup companies that can bridge the gaps between decentralized and centralized worlds.

“I see a parallel between the Internet boom in the ’90s and the current cryptocurrency market opportunity,” said Feng, as quoted by Venture Beat. “The crypto revolution may be even bigger than the Internet and more global. We take an ecosystem approach, investing in fund managers around the world and connecting the top technologists from the West to the largest crypto companies and user bases in Asia.”

Dragonfly has Attracted Investors around the World

Some of the most notable of investors include Marc Andreessen and Chris Dixon of A16Z, and Olaf Carlson-Wee of Polychain Capital.

Asia tech investors include Neil Shen, head of Sequoia China; Eric Xu, founder of Baidu; Bob Xiaoping Xu, founding partner of Zhenfund; Zhang Tao, chairman and founder of Meituan-Danping; and Annie Xu, head and general manager of Alibaba U.S.

While there are many that don’t like or believe in the future of cryptocurrencies, like Dr. Doom, we beg to differ.

In fact, as institutional interest gains momentum, crypto valuations have an opportunity to grow significantly.



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