Share this article
Crypto VC Firm Dragonfly Raising $500M for New Fund, Documents Show
The firm previously raised over $300 million across two funds.
By Brandy Betz
Updated May 11, 2023, 7:16 p.m. Published Jan 25, 2022, 8:22 p.m.
Crypto venture capital firm Dragonfly Capital Partners is raising $500 million for a new fund, according to a new regulatory filing.
The Dragonfly Ventures III Feeder fund has a $500 million target and hasn’t accepted its first investment yet. Dragonfly indicated that it doesn’t expect the offering to remain open for more than one year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
If the raise is a success, Dragonfly will be the latest high-value fund to emerge in recent months. Paradigm smashed records with a $2.5 billion fund announced in November. Andreessen Horowitz is reportedly doubling down on its already-prodigious crypto war chest with a $4.5 billion target for a pair of new funds.
That main difference with Dragonfly’s effort: The crypto market is currently a sea of red. Will it be enough to spook prospective investors?
Dragonfly had not replied to a CoinDesk email by the time of publication.
Read more: MakerDAO’s Rune Christensen Joins VC Firm Dragonfly Capital
Launched in 2018 with $100 million in assets under management (AUM), Dragonfly is an investment firm focusing on cryptocurrencies, new protocols and startups.
Dragonfly has raised over $300 million across two funds. The most recent was the Dragonfly Ventures Fund II, which launched in late 2020 with a target of raising $200 million.
The Dragonfly portfolio includes the Avalanche blockchain, crypto exchange Bybit and blockchain interoperability project Cosmos. The venture capital firm recently joined the $150 million funding round for the Near blockchain.
According to one partner’s LinkedIn profile, the firm now has over $2 billion in AUM.
Di più per voi
Cosa sapere:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Di più per voi
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Cosa sapere:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
