Dragonfly venture Fund raised $100 million for investment in cryptocurrency startups
Cryptocurrency venture Fund Dragonfly Capital Partners raised $100 million for investment in cryptocurrency startups. This writes Venture Beat.
Dragonfly headed by Aleksandr Pak, a young venture capitalist, who has previously run the cryptocurrency investment Fund Bain Capital Ventures, and Bo Feng, a veteran of the venture financing market with more than 20 years of experience, he founded Ceyuan Ventures. Puck, he’s got experience with cryptocurrencies and investments around the world, and Feng was engaged in launching and managing multi-billion dollar venture capital funds.
Dragonfly note that identified market opportunities to bridge the gap between East and West in cryptoamnesia. The Fund plans to invest in merging companies with different types of assets and different geographical regions. Pak says:
Over the years of investing in the cryptocurrency market, we understand how difficult the current investment companies to participate in this technological trend. The problem is that cryptocurrency is not just a new technology and a new class of assets based on technologies, what we have not met for decades. A new class of assets requires a new class of asset managers. That’s why we launched a Fund focused on cryptonote, and that’s why we invest in other cryptophony.
Dragonfly already has a portfolio of over 20 investments and will continue to invest in three areas: cryptophony; protocols and applications, which will be the basis of a decentralized economy; start-UPS to create “bridges” between the decentralized and centralized worlds. Bo Feng said:
I see a parallel between the Internet boom of the 90s and the current opportunities in the stock market. Cryptanalyse may become even more significant and global than the Internet. We apply the ecosystem approach, investing in Fund managers around the world and linking the best technology of the West with the largest user bases cryptocaryeae and Asia.
Among investors Dragonfly — known members of kriptonyte such as exchange OKEx and mining company Bitmain. Among the largest investors from the United States — Salil Deshpande from Bain Capital Ventures, Andreessen and Chris Dixon of Andreessen Horowitz, Olaf Carlson— Wee of Polychain Capital. Asian investors are Neal Schon, head of Sequoia China; Eric Xu, Baidu’s founder; Bob Xiaoping Xu, founding partner of Zhenfund; Zhang Tao, Chairman and founder of Meituan— Danping; Bao Fan, founder and CEO of China Renaissance Bank; Cai Wensheng, founder and Chairman Meitu; Justin Tang, founder and CEO X Financial and eLong; Annie Xu, Director and General Manager of Alibaba U. S.
It is worth noting that Feng is the largest investor OKEx, one of the leading cryptocurrency exchanges in the world, and Pak previously invested in Polychain Capital, the largest cription in the United States.
On the question of how will drop out of the fake cryptomeria, Dragonfly answer:
There are many new aspects of criptionveterinary, but in the end we are talking about support for good teams, who are creating innovations. Dragonfly partners have several decades of experience in venture capital investing in the early stages and years of experience investing in kriptonyte USA and Asia. We also invest in other cryptoforge — the best in specific areas.