Dragonfly Capital attracted $650 a million of development Web3 – Bits Media

Investment company Dragonfly Capital, specializing in cryptocurrencies, attracted $650 Milln for its third venture fund, aimed at supporting Web3 developers.

According to Dragonfly Capital, The new fund exceeds the first two in volume attracted funds: in 2018 The company has gathered a year $100 million, and in 2021 year - $225 million. Among the partners of the company are such companies, Like KKR, Sequoia China China.

Dragonfly tries to cover the entire spectrum of crypto companies for investment. Among them are firms, Studied by decentralized finances (DeFi), smart contracts, Web3 development, NFT, metavselnaya and infrastructures DAO. From the moment of its founding in 2018 year, The company invested in almost 60 firms, Among which Near Protocol, Avalanche, Everyrealm и Dune Analytics.

Basically, the company focused on early financing of cryptostarts, However, the size of the new fund allows Dragonfly to lead rounds of the B or higher series, Helping more mature projects.

According to the managing partner of the company Hasib Kureshi (Haseb Qureshi), With the new Dragonfly Foundation, he will be able to support the "most breakthrough" workers of the industry and stay with them throughout the entire stage of their rise. Kureshi is sure, That in the next five years the industry will change a lot and the next generation of startups will fully emigrate from Web2.

“The race for creating the best metavselnaya will continue, Defi matures, Games using cryptocurrencies will inevitably become popular, And the financial infrastructure is institutionalized ", - said Kureshi.

Recall, that last week, the American company Crusoe Energy System has conducted a round of the series, during which it attracted $505 million.