Huobi Beefs Up Venture Arm With Former DragonFly Partner Leading DeFi Investm...
Alex Pack from DragonFly will Join Huobi to help invest "tens of millions of dollars" in decentralized finance.
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Crypto fund DragonFly Capital announced the launch of a new $225 million fund to invest in projects across the crypto space. Following the success of the original $100 million fund kickstarted in late 2018, the Dragonfly Fund II will target four potential areas: decentralized finance (DeFi) protocols, non-fungible token projects, Ethereum Layer 2-based businesses, and centralized finance (CeFi) platforms. The San Francisco-based venture capital fund have been early backers of notable projects such as ByBit, […]
Amid the grueling bear market for Bitcoin, Ether and altcoins, the cryptocurrency industry is undergoing consolidation. Cryptocurrency venture firm Dragonfly has acquired a digital asset-focused investment fund for an undisclosed amount — a move that managing partner Haseeb Qureshi said mirrors the broad consolidation trend underway in the industry. Bloomberg reported Monday that Dragonfly purchased MetaStable Capital, a hedge fund co-founded by Naval Ravkiant in 2014, for an undisclosed sum. In doing so, Dragonfly dropped the word “Capital” from its name and underwent a complete....
Dragonfly, a well-established figure within the venture capital scene, will utilize the capital to invest in early- to mid-term projects within the crypto ecosystem. Dragonfly Capital, a prominent venture capital corporation operating in the cryptocurrency sector, has announced its third funding round, valued at $650 million. The figure surpasses its two prior rounds of $100 million in October 2018 and $200 million in December 2020.The $650 million raise saw participation from Tiger Global, KKR, Sequoia China and Invesco, among others, and arrived at slightly higher than the $500 million....
The bear market in crypto hasn’t deterred venture capital firms from investing heavily in blockchain and Web3 projects. Digital asset exchange Huobi Global has spun out a new investment arm focused on decentralized finance (DeFi) and Web3 projects, further highlighting venture capital interest in the blockchain economy. Dubbed Ivy Blocks, the new investment arm has over $1 billion in crypto assets under management to deploy, a spokesperson for Huobi confirmed. These funds have been earmarked for “identifying and investing in promising blockchain projects,” the company said. In addition to....
The leading cryptocurrency derivatives exchange and trading platform, Huobi is all set to make the beginning of 2021 a memorable one for its loyal userbase. Thanking the community for its support, Huobi has announced the “Celebrate 2021 by Joining Huobi Happy New Year Activities” campaign where users can win daily rewards and more than 400 […]