Dragonfly Capital
- Company typePrivate
- Founded2018
- HeadquartersJohannesburg, South Africa
- Headcount—
- GTM typeB2B
- OfferingServices
Dragonfly Capital firmographics
Firmographics- Name
- Dragonfly Capital
- Legal name
- Dragonfly Digital Management, LLC
- Website
- https://dragonfly.xyz
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Ownership category
- akta.pro rank
Dragonfly Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH)
Keywords
Where Dragonfly Capital is headquartered
LocationHeadquarters
- HQ city
- Johannesburg
- HQ country
- South Africa
- HQ region
- Africa
Offices3 records
Markets served
Dragonfly Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Fund Management: Dragonfly Capital generates revenue through traditional venture capital fund economics including management fees (typically 2% of committed capital) and performance fees/carried interest (typically 20% of profits above the hurdle rate). The firm manages multiple funds including Dragonfly Ventures, Dragonfly Liquid, and recently acquired Metastable (the oldest crypto hedge fund co-founded by Naval Ravikant in 2014).
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Dragonfly Capital product offering
Product offeringCore offering
Dragonfly Capital is a crypto-native venture capital firm that invests in early-stage blockchain and Web3 companies from seed through Series B, writing checks ranging from $3 million to over $30 million. The firm operates multiple funds including Dragonfly Ventures (early-stage venture), Dragonfly Liquid (liquid token fund), and Metastable (acquired quantitative crypto hedge fund), and supports portfolio companies with platform resources, research, and a global network spanning the U.S. and Asia.
Product overview
Dragonfly Capital is a crypto-native venture capital firm operating as a multi-fund platform comprising Dragonfly Ventures (primary venture vehicle), Dragonfly Liquid (liquid investment arm), and Metastable (acquired crypto hedge fund from 2014). The firm provides capital investments ranging from $3M to $30M+ across seed to Series B stages globally, with offices in New York City and Singapore. Alongside investment services, Dragonfly publishes proprietary research including the annual State of Airdrops Report and Crypto Compensation Reports, developed to address data gaps in the crypto industry.
Differentiator
Problem solved
Functional benefit
Brands
- Dragonfly Ventures: Venture capital fund focused on crypto and blockchain investments.
- Dragonfly Liquid
- Metastable
Products and services
- Dragonfly Ventures
- Dragonfly Liquid
- Metastable Quantitative crypto hedge fund acquired by Dragonfly Capital, focused on systematic and quantitative digital asset strategies.
- Dragonfly Fund IV Fourth flagship venture fund closed by Dragonfly Capital, continuing the firm's strategy of early-stage crypto-native venture investing from seed to Series B.
Quantifiable outcome
- Successfully closed $650M fourth fund defying 'mass extinction event' hitting peer crypto VCs
- +2 more outcomes
Companies that use Dragonfly Capital
Customer profileNamed customers13 records
Segments2 records
Ideal customer profiles2 records
Dragonfly Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Dragonfly Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- AaveminorDragonfly Capital's Managing Partner Haseeb Qureshi provided analysis on Aave's resilience during a DeFi crisis involving $177-236 million in bad debt from KelpDAO's rsETH exploit. Dragonfly is an investor in the Aave ecosystem and has provided public commentary on the protocol's capital reserves.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Dragonfly Capital competitors and assessment
Company assessmentBroad incumbents
- Andreessen Horowitz (a16z Crypto): Large, established venture firm with a dedicated crypto fund operating globally. Competes for the same blockchain founders and rounds but offers a much broader portfolio across software, bio, and fintech.
- Coinbase Ventures: Corporate venture arm of Coinbase, investing across the crypto ecosystem. Co-invested alongside Dragonfly in Mesh's Series C and competes for deals at the intersection of crypto infrastructure and consumer applications.
- Galaxy Digital: Public crypto-focused financial services and investment management firm. Operates venture, trading, and asset management businesses analogous to Dragonfly's Ventures, Liquid, and Metastable funds.
Direct peers
- Polychain Capital: Crypto-native venture firm investing in early-stage blockchain protocols and tokens. Comparable stage and check-size focus, with similar emphasis on protocol-level investments as Dragonfly Ventures.
- Pantera Capital: One of the longest-running crypto-focused investment firms, offering venture, liquid token, and hedge fund vehicles similar to Dragonfly's Ventures, Liquid, and Metastable stack.
- Multicoin Capital: Crypto-native investment firm investing in tokens and equity across the blockchain stack. Competes directly with Dragonfly's crypto-fintech thesis and is comparable in fund size and stage focus.
- Paradigm: Crypto-native venture firm focused on Web3, DeFi, and protocol-level investments. Co-invested with Dragonfly in Mesh's $75M Series C and is a leading competitor for the same founder pool and check sizes ($3M–$30M+).
- Bain Capital Crypto: Crypto-focused venture arm of Bain Capital investing in early-stage Web3 and blockchain companies. Comparable stage focus, check sizes, and LPs drawn from institutional crypto allocators.
- Hivemind Capital: Crypto-native investment firm. Co-backed Dragonfly's Avalanche Treasury Co. SPAC deal alongside Mountain Lake Acquisition Corp., making it a frequent co-investor in infrastructure and treasury plays.
Others
- Paradigm Research / Messari: Crypto research and data platform serving institutional investors and allocators. Comparable as a thought-leadency and research-driven firm in the crypto investment ecosystem, complementing Dragonfly's research output.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Dragonfly Capital social profiles
Digital presenceDragonfly Capital compliance and trust
Trust signalCompliance1 record
Dragonfly Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dragonfly Capital leadership team
Management profileNumber of profiles
Profiles10 records
Dragonfly Capital subsidiaries and ownership
Company hierarchySubsidiaries1 record
Dragonfly Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dragonfly Capital M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dragonfly Capital
What does Dragonfly Capital do?
Dragonfly Capital is a crypto-native venture capital firm that invests in early-stage blockchain and Web3 companies from seed through Series B, writing checks ranging from $3 million to over $30 million. The firm operates multiple funds including Dragonfly Ventures (early-stage venture), Dragonfly Liquid (liquid token fund), and Metastable (acquired quantitative crypto hedge fund), and supports portfolio companies with platform resources, research, and a global network spanning the U.S. and Asia.
Is Dragonfly Capital a public or private company?
Dragonfly Capital is a private company. It is classified as management employee owned and is currently operating.
When was Dragonfly Capital founded?
Dragonfly Capital was founded in 2018.
Where is Dragonfly Capital based?
Dragonfly Capital is headquartered in Johannesburg, South Africa, in the Africa region.
How does Dragonfly Capital make money?
One revenue line is on record: fund Management.
Who are Dragonfly Capital's main competitors?
Broad incumbents on record are Andreessen Horowitz (a16z Crypto), Coinbase Ventures and Galaxy Digital. Direct peers are Polychain Capital, Pantera Capital, Multicoin Capital, Paradigm, Bain Capital Crypto and Hivemind Capital. Paradigm Research / Messari is listed as an others.
Does Dragonfly Capital have an API?
No public API is recorded for Dragonfly Capital.
What industry is Dragonfly Capital in?
Dragonfly Capital's product category is Venture Capital. Its primary akta.pro industry code is FSAPAIAH, Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting). Its NAICS code is 52394 and its SIC code is 6282.