Crypto enterprise agency Dragonfly Capital has launched a brand new fund value $225 million to put money into a wide range of initiatives.
The Dragonfly Fund II appears to primarily put money into 4 areas: Decentralized finance (DeFi) protocols; non-fungible token (NFT) initiatives; Ethereum Layer 2 options and companies constructed on high of them; and centralized monetary (CeFi) infrastructure.
Sequoia China has backed the fund as a strategic restricted associate, and different companions within the fund embrace OKEx, Huobi, Bitmain, and Bybit.
“Along with most of the expertise and cultural leaders from US expertise corporations and VCs, we’re in an unbelievable place to assist unite and push the crypto motion ahead,” mentioned Haseeb Qureshi, managing associate at Dragonfly Capital.
Dragonfly was based in 2018 and raised $100 million for its first fund. To this point, the agency has invested in additional than 35 initiatives, together with dYdX, Compound, Maker, and StarkWare, as The Block Research reported late final yr.
Dragonfly operates from Beijing and San Francisco and is at the moment trying to rent individuals in Singapore as effectively. The agency has a complete of five jobs open, together with a chief working officer to be employed both in Singapore or the U.S.