Key Takeaways
- • Dragonfly Capital Partners has raised $100 million for a new fund that will invest in crypto vehicles and seed-stage startups, according to the Wall Street Journal.
- • More than half of the $100 million fund will be deployed into crypto funds, with the remainder going directly into seed-stage companies.
- • The raise is the latest example of cryptocurrency specialists at traditional venture-capital firms spinning out separate crypto vehicles as capital flows into the sector.
Summary
Dragonfly Capital Partners, a newly formed firm, has raised $100 million to invest in both cryptocurrency funds and early-stage startups, the Wall Street Journal reported. The vehicle is positioned around the Asia-U.S. corridor, as indicated by the fund's name in the headline. According to the report, more than half of the fund will be allocated to crypto vehicles, while the balance will be invested directly into seed-stage companies.
The launch reflects a broader pattern in which specialists at traditional venture-capital firms are establishing standalone funds dedicated to digital assets. The WSJ characterized the trend as driven by capital continuing to flow into the cryptocurrency sector during 2018. Dragonfly is described as the latest such vehicle to emerge from this movement.
The source material available for this summary is limited, and it does not provide detail on the fund's limited partners, fund manager names, target return, or specific portfolio companies. Readers seeking those details should consult the original WSJ article.
The launch reflects a broader pattern in which specialists at traditional venture-capital firms are establishing standalone funds dedicated to digital assets. The WSJ characterized the trend as driven by capital continuing to flow into the cryptocurrency sector during 2018. Dragonfly is described as the latest such vehicle to emerge from this movement.
The source material available for this summary is limited, and it does not provide detail on the fund's limited partners, fund manager names, target return, or specific portfolio companies. Readers seeking those details should consult the original WSJ article.
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