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Dragonfly Capital raises $650 million in third funding round
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Dragonfly Capital, a prominent venture capital firm operating in the cryptocurrency space, has announced its third funding round, valued at $650 million. This figure surpasses the $100 million in the previous two rounds in October 2018 and the $200 million in December 2020.
The $650 million round, which attracted participation from companies such as Tiger Fund, KKR, Sequoia China and Invesco, was slightly larger than the initial round in January's Form D filing with the U.S. Securities and Exchange Commission. announced $500 million.
The launch of Dragonfly Fund III also promises to provide financial support to projects at the seed to B round financing level in the fields of decentralized finance, encrypted games and metaverse.
Often at the forefront of the industry's most prominent venture funding, the Cayman Islands-based firm has invested in 54 projects, including Avalanche's $12 million private token sale in June 2020, Dune Analytics' September 2020 $2 million in seed round financing, and Dydx’s $10 million Series A round in October 2018, among others.
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