Crypto VC Dragonfly Completes Fourth Fund Raise, Raising $650 Million
On February 17th, Fortune magazine reported that cryptocurrency venture capital firm Dragonfly has closed its fourth fundraising round, securing a total of $650 million. Dragonfly noted that the current blockchain venture capital space is undergoing a "great reckoning," but institutions remain optimistic about the crypto financialization trend—focusing on stablecoins, on-chain financial infrastructure, and the tokenization of real-world assets.
Dragonfly's raise signals strong institutional conviction in crypto's financialization wave—stablecoins and RWAs could reshape global finance. Reminds me of early DeFi booms, but with more macro tailwinds this time