Dragonfly Capital Continues to Expand Crypto Investment Offerings with Launch of New Liquid Platform

SAN FRANCISCO and NEW YORK, July 18, 2022 /PRNewswire/ -- Dragonfly Capital ("Dragonfly"), a global crypto-focused investment firm, announced today the addition of a liquid platform.

Dragonfly launched its inaugural liquid crypto fund in June 2021, which is managed by Kevin Hu, Ashwin Ramachandran, and Lawrence Diao. According to Dragonfly, as of April 2022, the liquid investment platform raised more than $450 million including internal capital and SPVs.

Kevin Hu, Partner and Head of the Liquid Platform, said "We believe that the current market environment is especially attractive for liquid crypto assets as the market is not distinguishing between quality assets and vaporware. Tokens with cash flow and governance rights to products with significant traction are down just as much as many zombie assets with no future. Furthermore, we believe most of the capital in crypto is allocated to privates/venture, so there is a lack of dedicated capital and ability to underwrite altcoins once they become liquid. We believe this is creating massive dislocation and long-term opportunities as many liquid assets are trading well below their previous private rounds."

Lawrence Diao added, "During the 2018-2020 bear market, there were doubts whether crypto was here to stay. This time around we see a much stronger belief in the future. While it is still early, protocols are getting organic traction and impacting real world behavior, top tier tech and finance talent are entering this space at a blistering pace and institutional capital is trickling into the industry."

"Dragonfly has always differentiated itself by its global approach to investing. We aim to capture venture-like returns in a liquid vehicle by building a highly concentrated portfolio and then actively partnering with founders, engaging the community, participating in governance, and providing utility onchain," added Ashwin Ramachandran. "We will continue investing in crypto infrastructure, decentralized protocols, and breakthrough consumer applications, as well as the proliferation of NFTs, gaming, and DAOs."

Dragonfly Capital partners with crypto founders in all stages of development, from seed to Series D, to liquid tokens. With a global team, Dragonfly focuses on working closely with founders to solve their most pertinent problems on tech, product and go to market. Since its inception in 2018, Dragonfly has established a strong track record and invested in some of the largest and most influential crypto projects, including Avalanche, NEAR Protocol, 1inch, Bybit, Compound, dYdX, MakerDAO, and Matter Labs.

To learn more about Dragonfly Capital, visit https://dcp.capital. 

Under no circumstances should this publication be construed as an offer to provide investment advisory services or as an offer soliciting the purchase or sale of any security or interest in any investment vehicle managed by Dragonfly. Nor should it be used or relied upon in evaluating the merits of any investment. An offer to invest would be made separately and only by means of confidential offering documents, the terms of which would govern in all respects, and which should be read in their entirety, and only to those who, among other requirements, meet certain qualifications under federal securities laws. Such investors, defined as accredited investors and qualified purchasers, are generally deemed capable of evaluating the merits and risks of prospective investments and financial matters.

There can be no assurances that any particular investment objectives will be achieved or investment strategies will be successful. Any investment in a vehicle managed by Dragonfly involves a high degree of risk including the risk that the entire amount invested is lost. Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by Dragonfly and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. Past performance of Dragonfly's investment vehicles, investments, or investment strategies are not necessarily indicative of future results.

Certain statements made herein may constitute "forward-looking statements" (which can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "upside," "potential," "project," "estimate," "intend," "target" or "believe" or comparable terminology), please note that, due to various risks and uncertainties, actual events, results, or performance may differ materially from those reflected or contemplated in such statements. Forward-looking statements are not guarantees and involve risks, uncertainties, and assumptions. Dragonfly expressly disclaims any obligation to update any forward-looking statement in the event it later turns out to be inaccurate — whether as a result of new information, future events, or otherwise. All information contained herein should be independently verified and confirmed.

With regards to Dragonfly's investments in any digital asset, cryptocurrency, protocol, DAO or token projects, Dragonfly is acting in its own financial interest, not necessarily in the interests of other investors or token holders. Other investors and token holders should not expect that Dragonfly will undertake any involvement in these projects other than as an investor and token holder, and should not rely on Dragonfly to have any particular involvement. Investing in crypto assets is highly speculative, and the market is largely unregulated.

SOURCE Dragonfly Capital