Dragonfly Ventures

GRAND CAYMAN, E9

Dragonfly Capital has raised over $1.9B across 5 funds since 2008. Founded in 2018, Dragonfly is one of the largest crypto-native venture capital firms. The firm has backed Coinbase, MakerDAO, Celo, Near Protocol, and Optimism, investing across blockchain infrastructure, DeFi protocols, and Web3 applications.

Funds Raised

Total $ Raised

$1.9B

Est. Dry Powder

$782M

4yr linear

Last Fund

2024-11-02

Estimated dry powder over time

Linear 4-year deployment model per fund

All funds (5)

Fund	Raise Date	Filed	Raised	Est. Dry Powder	SEC
Dragonfly Ventures II, L.P.	Currently Raising	2020-12-16	—	Deployed	↗
Dragonfly Ventures IV, L.P.	2024-11-02	2025-10-30	$432M	$261M	↗
Dragonfly Ventures IV US Feeder, L.P.	2024-11-02	2025-10-30	$432M	$261M	↗
Dragonfly Ventures IV Cayman Feeder, L.P.	2024-11-02	2025-10-30	$432M	$261M	↗
Dragonfly Ventures III, L.P.	2022-01-28	2022-05-06	$650M	Deployed	↗