Dragonfly Ventures

Dragonfly is a global venture capital firm founded in 2018, specializing in the cryptocurrency and blockchain sectors. Headquartered in San Francisco, with additional offices in New York City and Singapore, the firm is managed by a team of over 45 professionals who are deeply knowledgeable about the decentralized economy. Dragonfly focuses on investing in promising opportunities within the cryptoasset class, targeting companies in information technology, financial services, and blockchain technology in both the US and Asia. The firm operates multiple funds, including Dragonfly Ventures and Dragonfly Ventures III, to support and foster growth in the evolving landscape of digital assets.

Rahul Bishnoi

Junior Partner

Ivan Bogatyy

Research Partner

Cheryl Chan

Partner

Rune Christensen

Venture Partner

Lawrence Diao

General Partner

Kadin Donohoe

Junior Partner

Rob Hadick

General Partner

Kevin Hu

General Partner - Head of Liquid Strategies

Omar Kanji

Junior Partner

Sanat Kapur

Junior Partner

Dmitry Lapidus

Junior Partner

Lindsay Lin

Partner

Chase Lochmiller

Venture Partner

Anirudh Pai

Partner

Ryan Phua

Junior Partner

Gengmo Qi

Partner

Haseeb Qureshi

Managing Partner

Ashwin Ramachandran

General Partner

Celia Wan

Investor

Kitty Wang

CFO

Past deals in Peer to Peer

Monad

Seed Round in 2023
Monad is a proof-of-stake blockchain and decentralized computation platform that focuses on high performance and portability. It features a scalar architecture with pipelined execution, which allows for efficient transaction throughput. This innovative design enables developers to create complex decentralized applications (dApps) capable of processing a large volume of transactions quickly. By combining advanced technology with a user-friendly framework, Monad aims to enhance the overall functionality and scalability of decentralized applications in the blockchain ecosystem.

Parcl

Venture Round in 2022
Parcl is a digital real estate protocol built on the blockchain. The company's headquarters are in New York City.

Axelar

Series B in 2022
Developer of a decentralized interoperability software designed to connect blockchain ecosystems and applications with users. The company's software is powered by byzantine consensus, cryptography, and mechanism design protocols that let applications live on different blockchains to communicate with each other, enabling users to get a distributed network, APIs, and tools to make it easy to build cross-chain decentralized applications.

MetaStreet

Seed Round in 2022
MetaStreet is a liquidity routing & scaling protocol for NFT collateralization platforms.MetaStreet strive to increase the GDP of emerging NFT economies through abstracted capital participation on NFT collateralization platforms.

NEAR

Initial Coin Offering in 2022
NEAR Inc. is a company that develops the NEAR Protocol, a scalable blockchain platform designed for creating decentralized applications. Founded in 2017 and headquartered in San Francisco, California, NEAR Protocol supports the development of open-source software and aims to facilitate mainstream adoption of decentralized technologies. The platform offers various services, including documentation, a wallet, a development studio, and an explorer, all built to enhance user experience and development efficiency. It is engineered to handle high-value assets securely while providing the necessary scalability for a wide range of decentralized applications. NEAR's focus on ease of use for both developers and end users distinguishes it in the evolving landscape of blockchain technology.

NEAR

Funding Round in 2022
NEAR Inc. is a company that develops the NEAR Protocol, a scalable blockchain platform designed for creating decentralized applications. Founded in 2017 and headquartered in San Francisco, California, NEAR Protocol supports the development of open-source software and aims to facilitate mainstream adoption of decentralized technologies. The platform offers various services, including documentation, a wallet, a development studio, and an explorer, all built to enhance user experience and development efficiency. It is engineered to handle high-value assets securely while providing the necessary scalability for a wide range of decentralized applications. NEAR's focus on ease of use for both developers and end users distinguishes it in the evolving landscape of blockchain technology.

Parcl

Seed Round in 2021
Parcl is a digital real estate protocol built on the blockchain. The company's headquarters are in New York City.

Paras

Seed Round in 2021
Paras is an Indonesia-based marketplace specializing in non-fungible tokens (NFTs). It offers a digital collectible platform that allows users to trade various digital items, including comics, games, and digital art. By facilitating crypto trading, Paras provides a space for users to engage with and exchange unique digital assets, enhancing the accessibility and appeal of the NFT market.

Taker Protocol

Seed Round in 2021
Taker Protocol is a cryptocurrency liquidity protocol for NFTs.

Axelar

Series A in 2021
Developer of a decentralized interoperability software designed to connect blockchain ecosystems and applications with users. The company's software is powered by byzantine consensus, cryptography, and mechanism design protocols that let applications live on different blockchains to communicate with each other, enabling users to get a distributed network, APIs, and tools to make it easy to build cross-chain decentralized applications.

PoolTogether

Series A in 2021
PoolTogether Inc. operates an Ethereum based application for saving money and playing a game. It offers PoolTogether that provides users to access a decentralized money saving and reward tool on the Ethereum blockchain, that allows participants to use Ethereum assets to transact using smart contracts. Its platform offers an audited savings game where users deposit money that goes into compound protocol to begin earning interest and at the end of the week, one winner receives the collective interest earned and everyone is able to receive their principal back. The company was founded in 2019 and is based in Grand Rapids, Michigan.

Hashflow

Seed Round in 2021
Operator of a layered protocol intended to build and operate emerging generations of CeFi-Defi hybrid exchanges. The company's protocol will combine centralized order-matching and trade execution with decentralized trustless custody and post-trade settlement, enabling users to get non-custodial trading options.

Benqi

Private Equity Round in 2021
BENQi is a liquidity protocol built on the Avalanche platform, designed to facilitate the seamless lending, borrowing, and earning of interest with digital assets. By integrating elements of decentralized finance (DeFi) and traditional finance (TradFi), BENQi aims to enhance accessibility to financial products. Its infrastructure focuses on scalability, decentralization, and user-friendliness, offering low fees and permissionless access to a shared liquidity market. Additionally, BENQi seeks to bridge various blockchain ecosystems, including Ethereum, Polkadot, and Binance Smart Chain, through the use of Avalanche's subnets, positioning itself as a cross-chain DeFi solution. This approach enables traders to quickly supply and withdraw liquidity, democratizing access to financial services.

Anchor Protocol

Venture Round in 2021
Anchor Protocol is a savings platform that provides crypto natives, fintech companies, and investors a stable, high interest rate finance. The company was founded in 2020 and is headquartered in Seoul, South Korea.

NEAR

Venture Round in 2021
NEAR Inc. is a company that develops the NEAR Protocol, a scalable blockchain platform designed for creating decentralized applications. Founded in 2017 and headquartered in San Francisco, California, NEAR Protocol supports the development of open-source software and aims to facilitate mainstream adoption of decentralized technologies. The platform offers various services, including documentation, a wallet, a development studio, and an explorer, all built to enhance user experience and development efficiency. It is engineered to handle high-value assets securely while providing the necessary scalability for a wide range of decentralized applications. NEAR's focus on ease of use for both developers and end users distinguishes it in the evolving landscape of blockchain technology.

Saddle

Seed Round in 2021
Saddle Finance operates an automated market maker (AMM) platform specifically designed for trading pegged value crypto assets. Its innovative financial trading platform facilitates trading and earning opportunities with these assets by utilizing a tokenized bitcoin pool. This approach enhances on-chain liquidity, allowing traders to execute transactions with minimal slippage and reduced transaction fees. By focusing on the unique requirements of pegged value assets, Saddle Finance aims to provide an efficient and cost-effective trading experience for its users.

SynFutures

Seed Round in 2021
SynFutures operates a decentralized derivatives platform that facilitates the trading of synthetic assets, allowing users to create and trade various digital asset pairs using a single digital token as margin. The platform aims to establish an open and trustless derivatives market by enabling trading on any asset with a price feed. By promoting a free market environment and increasing the diversity of tradable assets, SynFutures seeks to lower the barriers to entry in the derivatives market, thereby fostering a more equitable exchange for digital assets.

Sia

Seed Round in 2020
Sia is the leading decentralized cloud storage platform. No signups, no servers, no trusted third parties. Sia leverages blockchain technology to create a data storage marketplace that is more robust and more affordable than traditional cloud storage providers.

1inch

Seed Round in 2020
1inch Limited is a company that specializes in developing decentralized protocols for cryptocurrency trading. Founded in 2019 and based in the United States, 1inch operates the 1inch Network, which includes several key protocols: the 1inch Aggregation Protocol, the 1inch Liquidity Protocol, and the 1inch Limit Order Protocol. These protocols work together to facilitate efficient and secure trading operations in the decentralized finance (DeFi) space, allowing users to execute transactions that are both profitable and fast. Through its innovative technology, 1inch aims to enhance the trading experience for users in the growing cryptocurrency market.

DerivaDEX

Seed Round in 2020
Developer of a community-governed derivatives exchange intended to unite performance and autonomy. The company develops an ethereum-based exchange that uses a liquidity-mining token model along with open order book and on-chain settlements for the trades, enabling traders to participate in the governance and operations of the exchange.

Paradigm

Seed Round in 2020
Paradigm was born out of our own frustrations with the institutional OTC trading process. After spending hundreds of hours trading and navigating the inefficient, multi-channel nature of traditional OTC markets, we thought to ourselves: “there has to be a better way.” Paradigm is that better way. We are building the next generation of institutional OTC trading that is powered by conversation and automated with AI. We are backed by XBTO Ventures, Vectr Fintech Partners and some of the most influential private investors in the OTC markets.

dYdX

Series A in 2018
dYdX Trading Inc. operates a cryptocurrency exchange and trading platform that focuses on derivatives for crypto assets, utilizing the Ethereum blockchain and the 0x protocol. Founded in 2017 and based in San Francisco, the platform enables users to engage in peer-to-peer short selling, long positions, and options trading on ERC20 tokens. It also allows for fully collateralized loans, providing essential funding for short sellers. Users can earn interest on their deposits or take out loans for a nominal fee, as well as trade on margin with customizable leverage. dYdX aims to create an open financial system that grants access to powerful financial tools for individuals worldwide.

Paradigm

Seed Round in 2018
Paradigm Foundation designs and develops a decentralized relay protocol for smart contract based financial primitives. The company's platform allows exchanges and traders to gain access to a liquidity pool. Its platform provides interfaces and libraries for developers to implement smart contract based financial primitives. such as spot exchange, derivatives, and loans. The company was founded in 2018 and is based in San Francisco, California.
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