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Overview
Dragonfly Capital is a venture fund that invests in cryptocurrency and blockchain startups around the world from the very beginning. It provides capital to promising crypto projects and supports them with its network, resources, and guidance to help them grow and reach users. Unlike some funds that focus on a single region, Dragonfly Capital operates globally from day one, seeking opportunities across borders and markets. The goal is to back capable crypto teams, accelerate their growth, and generate strong returns for its investors.
About Dragonfly Capital
Industries
Data & Analytics
Venture Capital
Crypto & Web3
Financial Services
Company Size
11-50
Company Stage
N/A
Total Funding
$1.7B
Headquarters
Charlotte, North Carolina
Founded
2018
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Simplify's Take
What believers are saying
- Conduit raised $36 million in May 2025, extending Dragonfly's payments exposure.
- Variational raised $50 million in 2025, strengthening Dragonfly's derivatives and liquidity thesis.
- Fund IV closed above target during a downturn, signaling durable LP conviction in 2026.
What critics are saying
- DOJ prosecutors targeted Dragonfly's Tornado Cash investment on July 25, 2025.
- Roman Storm's trial keeps Dragonfly tied to privacy-protocol criminal scrutiny in 2025.
- A prolonged crypto VC slump can compress exits and punish a $650 million deployment cycle.
What makes Dragonfly Capital unique
- Dragonfly closed Fund IV at $650 million on February 17, 2026.
- It targets stablecoins, DeFi, prediction markets, RWAs, and payments infrastructure.
- Its portfolio spans Tornado Cash, Mesh, Conduit, Ethena, Rain, and Polymarket.
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Funding
Total Funding
$1.7B
Above
Industry Average
Funded Over
0 Rounds
Company News
Variational, a startup building a decentralised derivatives trading protocol, has raised $50 million in a Series A round led by Dragonfly Capital, with participation from Bain Capital Crypto and Coinbase Ventures. The Cayman Islands-based company previously raised $10.3 million in a seed round in 2021. Founded by Lucas Schuermann and Edward Yu, Variational aims to bring liquidity from traditional finance dealers to blockchain-based trading. Unlike order book-based exchanges like Hyperliquid, Variational aggregates liquidity from existing venues including large crypto exchanges and traditional finance dealers to create deeper markets. The company operates Omni, a retail-focused app for trading perpetual futures that currently runs on an invite-only basis. Variational plans to open the platform publicly in select jurisdictions and expand its real-world asset offerings.
/PRNewswire/ -- Mesh, the leading crypto payments network, today announced it closed a $75 million Series C funding round, bringing its total amount raised to...
New York, NY, 20th November 2025, Chainwire
The startup aims to allow people around the world to invest in traditional U.S. assets using crypto technology
ZAR, a Pakistan-based startup, has secured $12.9m from venture capital firm Andreesen Horowitz to finance its ambition to bring stablecoins to Pakistan's unbanked.
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About Dragonfly Capital
Industries
Data & Analytics
Venture Capital
Crypto & Web3
Financial Services
Company Size
11-50
Company Stage
N/A
Total Funding
$1.7B
Headquarters
Charlotte, North Carolina
Founded
2018
There are no jobs for Dragonfly Capital right now.
Find jobs on Simplify and start your career today