Dragonfly Capital continues to expand its crypto investment offering with the launch of a new floating platform
SAN FRANSISCO and NEW YORK, July 18, 2022 / PRNewswire / – Dragonfly Capital (“Dragonfly”), a global cryptocurrency-focused investment company, today announced the addition of a floating platform.
Dragonfly launched its first liquid crypto fund in June 2021managed by Kevin Hu, Ashwin Ramachandranand Lawrence Diao. According to Dragonfly, pr April 2022the floating investment platform collected more than $ 450 million including internal capital and SPVs.
Kevin Hupartner and head of Liquid Platform, said “We believe that the current market environment is particularly attractive for liquid cryptocurrencies since the market does not differentiate between quality assets and vaporware. Tokens with cash flow and management rights to products with significant traction are down as much as many zombie assets without Furthermore, we believe most of the capital in crypto is allocated to private / venture, so there is a lack of dedicated capital and the ability to underwrite altcoins when they become liquid.We believe this creates massive dislocation and long-term opportunities as many liquid assets are traded well during his previous private rounds. “
Lawrence Diao added, “During the bear market 2018-2020, there was doubt whether crypto had come to stay. This time we see a much stronger belief in the future. Although it is still early, protocols gain organic traction and influence behavior in the real world.” world., top-level technology and financial talent are entering this area at a rapid pace and institutional capital is trickling into the industry. “
Dragonfly has always differentiated itself with its global approach to investment. We aim to capture venture-like returns in a liquid vehicle by building a highly concentrated portfolio and then actively collaborating with founders, engaging the community, participating in management and offering benefits. onchain, “added Ashwin Ramachandran. “We will continue to invest in crypto infrastructure, decentralized protocols and cutting-edge consumer applications, as well as the deployment of NFTs, games and DAOs.”
About Dragonfly Capital
Dragonfly Capital collaborates with crypto entrepreneurs in all stages of development, from seeds to series D, to floating tokens. With a global team, Dragonfly focuses on working closely with entrepreneurs to solve their most relevant issues in technology, product and market. Since its inception in 2018, Dragonfly has established a strong track record and invested in some of the largest and most influential crypto projects, including Avalanche, NEAR Protocol, 1inch, Bybit, Compound, dYdX, MakerDAO and Matter Labs.
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With respect to Dragonfly’s investments in any digital asset, cryptocurrency, protocol, DAO or token project, Dragonfly acts in its own financial interest, not necessarily in the interests of other investors or token holders. Other investors and token holders should not expect Dragonfly to take any involvement in these projects other than as an investor and token holder, and should not trust Dragonfly to have any particular commitment. Investment in cryptocurrencies is highly speculative, and the market is largely unregulated.
SOURCE Dragonfly Capital
