In response to an individual conversant in the matter, crypto enterprise capital agency Dragonfly Capital is focusing on to lift $500 million for its fourth fund, which can be primarily invested in tasks at an early stage.
Primarily based in San Francisco, Dragonfly Capital has already raised internally $250 million and plans to complete the fundraising within the first quarter of subsequent 12 months. The main points are non-public, and Dragonfly hasn’t made any touch upon the matter.
Dragonfly Capital In search of $500M
The firm’s move additionally follows different crypto VC funds, together with Robotic Ventures and Paradigm, in chasing funding after the trade emerged from trials it confronted two years in the past.
Dragonfly’s fundraising comes towards a contentious U.S. presidential election during which one of many candidates, Donald Trump, has declared he intends to assist the sector if re-elected.
If all goes effectively, nonetheless, Dragonfly Capital has invested in additional than 100 digital asset corporations and tasks, together with Ethena, Cosmos, and Monad Labs, in keeping with its web site. Two years in the past, the agency closed its third fund, which raised $650 million.
Crypto Specialists Analyze SOL Surge: Is it a Actual Risk to Ethereum?
Lately, some crypto consultants chimed in with their ideas on the continuing crash of the market. These embody: Haseeb Qureshi, Managing Accomplice at Dragonfly; Tom Schmidt, Common Accomplice at Dragonfly Capital; Robert Leshner, CEO & Co-founder of Superstate; and Tarun Chitra, Managing Accomplice at Robotic Ventures.
Whereas Solana’s first month noticed stellar DEX volumes above Ethereum, it nonetheless has a protracted option to go by way of enterprise capital funding. That’s to say, the few successes of Solana remained inside its personal ecosystem or, at finest, within the so-called meme cash, versus in DeFi functions the place Ethereum stays supreme.
Evaluating the 2, Solana nonetheless boasts extremely lively community exercise, whereas its capital inflows are softer in contrast with Ethereum. This creates a really attention-grabbing alternative for strategic traders. Early-stage funds positioned in Solana, equivalent to Frictionless or Massive Mind, could also be arrange effectively for upside if Solana’s traction retains bettering. Additionally, the trail to improved community reliability for Solana has been far more pragmatic in contrast with Ethereum’s longer-term theoretical fixes.
Teuta
Teuta is a seasoned author and editor with over 15 years of expertise in macroeconomics, know-how, and the cryptocurrency and blockchain industries. Beginning her profession in 2005 as a life-style author for Cosmopolitan in Croatia, she expanded into overlaying enterprise and economic system for a number of esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one in all humanity’s most vital innovations. Her fintech involvement started in 2014, specializing in crypto, blockchain, NFTs, and Web3. Recognized for her wonderful teamwork and communication expertise, Teuta holds a double MA in Political Science and Regulation, enjoys punk rock, chablis, and has a ardour for footwear.
Disclaimer: The introduced content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.
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