Dragonfly Capital has launched a new $650M venture capital fund.
The Foundation will focus on Web 3.0 application developers. A company spokesman has said that Dragonfly Capital’s assets reached approximately $3 billion with the launch of this new fund.
The company managing partner Hasib Qureshi has said:
“This new generation of entrepreneurs has a lot of energy and enthusiasm for a decentralized future.”
The structure has received the support of Tiger Global and KKR. In addition, several university Ivy League foundations also took part.
Tom Schmidt, general partner at Dragonfly Capital, has said:
“From the very beginning, we supported the founders at the earliest stages and made it’s in the later stages. We didn’t always have the means […]. With Fund III, we can support teams throughout their life cycle and support new founders as their companies mature.”
