According 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 might be primarily invested in initiatives at an early stage.
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 particulars are personal, and Dragonfly hasn’t made any touch upon the matter.
Dragonfly Capital Seeking $500M
The firm’s move additionally follows different crypto VC funds, together with Robot Ventures and Paradigm, in chasing funding after the business emerged from trials it confronted two years in the past.
Dragonfly’s fundraising comes towards a contentious U.S. presidential election through which one of many candidates, Donald Trump, has declared he intends to help the sector if re-elected.
If all goes nicely, nonetheless, Dragonfly Capital has invested in additional than 100 digital asset firms and initiatives, together with Ethena, Cosmos, and Monad Labs, in line with its web site. Two years in the past, the agency closed its third fund, which raised $650 million.
Crypto Experts Analyze SOL Surge: Is it a Real Threat to Ethereum?
Recently, some crypto specialists chimed in with their ideas on the continued crash of the market. These embody: Haseeb Qureshi, Managing Partner at Dragonfly; Tom Schmidt, General Partner at Dragonfly Capital; Robert Leshner, CEO & Co-founder of Superstate; and Tarun Chitra, Managing Partner at Robot Ventures.
While Solana’s first month noticed stellar DEX volumes above Ethereum, it nonetheless has an extended approach to go when it comes to enterprise capital funding. That is to say, the few successes of Solana remained inside its personal ecosystem or, at greatest, within the so-called meme cash, versus in DeFi functions the place Ethereum stays supreme.
Comparing the 2, Solana nonetheless boasts extremely energetic 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, akin to Frictionless or Big Brain, could also be arrange nicely for upside if Solana’s traction retains bettering. Also, the trail to improved community reliability for Solana has been rather 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, expertise, and the cryptocurrency and blockchain industries. Starting her profession in 2005 as a life-style author for Cosmopolitan in Croatia, she expanded into masking 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 considered one of humanity’s most vital innovations. Her fintech involvement started in 2014, specializing in crypto, blockchain, NFTs, and Web3. Known for her wonderful teamwork and communication expertise, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a ardour for sneakers.
Disclaimer: The offered content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability for your private monetary loss.
