Dragonfly to invest in cryptocurrencies with $100 mln maiden fund


San Francisco-based Dragonfly Capital Partners announced this morning its launch of a $100 million fund to invest in cryptocurrency deals. The firm is led by Managing Partners Alexander Pack, who previously headed network investing at Bain Capital Ventures, and Bo Feng, who previously was a founding partner of Ceyuan Ventures.The firm said it already has a portfolio of 20 companies, including Basis, Spacemesh and Oasis Labs. The fund’s investors include Salil Deshpande of Bain Capital Ventures, Marc Andreessen and Chris Dixon of Andreessen Horowitz, Cyan Banister of Founders Fund, Olaf Carlson-Wee of Polychain Capital, Neil Shen of Sequoia China, Baidu founder Eric Xu, Bob Xiaoping Xu of Zhenfund, Zhang Tao of Meituan-Danping, Bao Fan of China Renaissance Bank, Cai Wensheng of Meitu, Justin Tang of X Financial, JP Gan of Qiming Venture Partners, and Annie Xu of Alibaba U.S.

Source: Firm announcement

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