InvestorGlobal private investment firm with diverse strategies.
Dragonfly
Dragonfly is a global crypto investment fund that supports teams across various sectors in the crypto space, focusing on innovation and adoption. It operates from San Francisco and Singapore, investing in early-stage to growth-stage projects.
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Official links
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Overview
Dragonfly is a crypto investment fund founded in 2018, with a mission to help crypto teams with global aspirations find innovation and adoption. The firm has evolved its investment thesis over time, initially focusing on DeFi and Layer-1/L2 protocols, and more recently shifting towards fintech-like crypto products such as stablecoins and payment infrastructure. With a portfolio of over 100 digital asset companies, Dragonfly operates globally, leveraging strong connections in the Asia-Pacific region, particularly through its co-founder Bo Feng. The firm has successfully closed multiple funds, with the latest, Fund IV, raising $650M in February 2026, amidst challenging market conditions for blockchain VCs.
Focus
Dragonfly invests in various sectors within the crypto ecosystem, including protocols, exchanges, and applications. The firm particularly focuses on early-stage and growth-stage companies that are pushing the boundaries of the industry and addressing critical challenges.
Support
Dragonfly provides strategic support to its portfolio companies, leveraging its extensive network and expertise in the crypto space to help them navigate challenges and achieve growth.
Questions
What are Dragonfly's investment criteria?
Dragonfly focuses on early-stage and growth-stage companies in the crypto sector, particularly those addressing significant challenges and pushing the boundaries of the industry. They look for innovative teams with global aspirations and a strong understanding of their market.
How can I apply or pitch to Dragonfly?
Founders can pitch to Dragonfly by visiting their website at dragonfly.xyz. It is recommended to provide a clear business model and demonstrate scalability potential in the pitch.
What makes Dragonfly different from other VC firms?
Dragonfly specializes in the crypto space, with a strong emphasis on fintech-like products such as stablecoins and payment infrastructure. Their extensive network and expertise in the crypto industry provide valuable support to portfolio companies.
What is Dragonfly's geographic scope?
Dragonfly operates globally, with a significant presence in both the United States and Asia, particularly through their Singapore office. They have adapted to the changing regulatory landscape in China by relocating their operations.
What is the typical fund size and check size for Dragonfly?
Dragonfly's most recent fund, Fund IV, closed at $650 million. The firm typically leads funding rounds and provides follow-on investments, although specific check sizes can vary based on the stage and needs of the portfolio company.
What kind of post-investment involvement does Dragonfly have?
Dragonfly provides strategic support to its portfolio companies, leveraging its extensive network and expertise to help them navigate challenges and achieve growth. This includes operational support and guidance on scaling their businesses.
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