Dragonfly's Fourth Fund
Dragonfly aims to raise $500 million for its fourth fund, as reported by Bloomberg. The San Francisco-based crypto venture firm has already secured $250 million and plans to complete financing by the end of the first financial quarter of 2025.
The fourth fund is expected to be oversubscribed, similar to the previous one. In May 2022, Dragonfly closed $650 million for the Dragonfly Ventures III fund, surpassing its initial goal of $500 million. This fund received backing from notable partners like KKR, Tiger Global, Invesco, and Sequoia China.
Prior to this, Dragonfly also raised $225 million for its second fund in 2021, focusing on projects in DeFi, NFT, Ethereum Layer 2, and centralized finance. Additionally, the firm recently led a $12 million seed round for the stablecoin issuer Agora in April this year.
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