Based on an individual conversant in the matter, crypto enterprise capital agency Dragonfly Capital is concentrating on to lift $500 million for its fourth fund, which will likely 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 small print are non-public, and Dragonfly hasn’t made any touch upon the matter.
Dragonfly Capital Looking for $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 through which one of many candidates, Donald Trump, has declared he intends to help 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, based on 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?
Just lately, some crypto specialists chimed in with their ideas on the continued crash of the market. These embody: Haseeb Qureshi, Managing Companion at Dragonfly; Tom Schmidt, Common Companion at Dragonfly Capital; Robert Leshner, CEO & Co-founder of Superstate; and Tarun Chitra, Managing Companion at Robotic Ventures.
Whereas Solana’s first month noticed stellar DEX volumes above Ethereum, it nonetheless has an extended technique to go by way of enterprise capital funding. That’s 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.
Evaluating 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 buyers. Early-stage funds positioned in Solana, comparable to Frictionless or Huge Mind, could also be arrange effectively for upside if Solana’s traction retains enhancing. Additionally, the trail to improved community reliability for Solana has been way more pragmatic in contrast with Ethereum’s longer-term theoretical fixes.
Disclaimer: The offered content material could 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 accountability on your private monetary loss.
✓ Share: