Today, we are pleased to release the Dragonfly Capital Phase II Fund, a venture capital fund with a scale of approximately US$225 million, which aims to invest in the next generation of blockchain entrepreneurs and projects.
Our vision for establishing Dragonfly is: Unlike traditional companies, blockchain distributed technology has been global from day one. Borderless and global are the essence of digital assets. Since the birth of each project agreement, the user network has been globally oriented.
We believe that a digital asset investment institution that keeps pace with the times should follow this point.
This concept is realized in the entrepreneurs we support. We are fortunate to cooperate with many of the world’s top talents to establish digital asset infrastructure, distributed protocols and breakthrough consumer applications. We work tirelessly with the cooperative project team to build a bridge between the Western and Asian blockchain communities.
A list of some of the early projects we support
We are recruiting talents to join, please check our vacancies posted on AngelList and contact [email protected] (or apply directly on AngelList). We welcome outstanding talents to join the research and investment team, as well as our Singapore office. Welcome to contact us!
Since we started investing in this field, the industry dynamics have been changing with each passing day. Here are a few areas we are optimistic about.
● Open Finance●
Before the concept of DeFi (Decentralized Finance, open finance) was put forward, we had already started investing in this field. In the DeFi world, financial services are as accessible, transparent and programmable as information in the current Internet. DeFi users and usage have grown by orders of magnitude, but it is still limited by the original infrastructure. In other words, we are still in the MS-DOS stage of DeFi applications: how will the next development be unfolded, and what new applications will the next wave of infrastructure unlock? Please wait and see.
● Capitalization of NFT and creators ●
NFT (Non-Fungible Tokens, non-homogeneous assets) provides creators with a brand-new model of creation, distribution, and assetization of works. With the help of NFT, users can own items with digital native attributes, and creators can immediately open up channels for global collectors.
In the past ten years, the capitalization of creators has been completely subverted. The traditional media capitalization model (such as the sale of advertising spaces) is no longer suitable for works in the form of new media. How will NFT solve this problem? Although there are many bubbles in NFT now, this answer will gradually become clear in the future.
● Layer 2 ●
Ethereum is currently crowded to a large number of users unavailable. At the same time, starting from the early joint side chains and simple state channels, the Layer 2 ecosystem has matured. We are looking for an excellent team that is deeply involved in this field, continues to innovate, and combines technological breakthroughs with real market applications. Of course, this is not just the literal “build a Layer 2” meaning: it also means the continuous enrichment and improvement of the tools and businesses built on Layer 2. If Layer 2 can become a way for blockchain to expand in the future, this may be the most important architectural change in the next few years. And these types of changes often accompany the birth of great companies.
● Centralized financial infrastructure ●
Our investment in CeFi (Centralized Finance, centralized financial infrastructure) can be traced back to before the establishment of Dragonfly. Many investors are trying to map the infrastructure of the digital asset market to traditional financial companies: who will become Goldman Sachs and NYSE in the digital field? (Recently, these traditional financial tycoons have also personally ended up, joining the competition in the field of digital assets!)
The most influential digital financial infrastructure companies will start from the first principle and reshape the interweaving way of digital assets and capital markets.