Dragonfly Capital, a distinguished enterprise capital company working within the cryptocurrency sector, has introduced its third funding spherical, valued at $650 million. The determine surpasses its two prior rounds of$100 million in October 2018 and $200 million in December 2020.

The $650 million elevate noticed participation from Tiger International, KKR, Sequoia China and Invesco, amongst others, and arrived at barely increased than the $500 million initially declared to the Securities and Change Fee in a Kind D submitting in January.

The introduction of Dragonfly Fund III was coupled with a pledge to distribute monetary help to initiatives at seed to Collection B funding ranges throughout the sectors of decentralized finance, crypto gaming and the metaverse, amongst others.

Gm anons!

We’re launching Dragonfly Fund III, a $650M crypto enterprise fund—our largest fund ever.

With this new fund, we’ll be be backing founders all throughout their lifecycle in crypto.

Excited to be a small a part of the subsequent chapter of this trade.https://t.co/YuN5oz1v9v

— Haseeb Qureshi (@hosseeb) April 27, 2022

The Cayman Island-based company is usually positioned on the forefront of the trade’s most distinguished enterprise raises, having invested in 54 initiatives, together with Avalanche’s$12 million personal token sale in June 2020, Dune Analytics’ $2 million seed spherical in September 2020, and Dydx’s $10 million Collection A in October 2018, amongst others.