US-based, cryptocurrency technology-oriented venture capital firm Dragonfly Capital Partners is raising $225m for its second fund, which has several corporates as partners.
Dragonfly Fund II secured a limited partner commitment from venture capital firm Sequoia Capital China and has strategic alliance agreements in place with cryptocurrency exchange platforms Bybit, Huobi and OKEx as well as bitcoin miner Bitmain.
Dragonfly Capital Partners focuses on developers of blockchain-related technology and cryptocurrency funds, protocols and applications. The second iteration follows a $100m initial fund formed in 2019 that included Bitmain and OKEx as LPs in addition to a host of US and Asia-based individuals.
Haseeb Qureshi, managing partner of Dragonfly Capital Partners, said: “Together with many of the technology and cultural leaders from US technology firms and VCs, we are in an incredible position to help unite and push the crypto movement forward.
“We are going to continue our global-first approach as we work with the best teams across the east and the west, and we are looking for people to help us build this vision.”
