# Dragonfly

> Dragonfly is a global crypto investment firm backing blockchain companies, protocols and financial infrastructure. Its venture and liquid investment activities combine capital with recruiting, research and founder support. It announced a $650 million fourth venture fund in February 2026.

- **Founded:** 2018
- **Headquarters:** New York, United States
- **Founders:** Bo Feng (Co-founder and Managing Partner), Alexander Pack (Co-founder; former Managing Partner)
- **Products:** Dragonfly Ventures, Dragonfly Liquid, MetaStable, Founder support and recruiting, 2024/2025 Crypto Compensation Report
- **Notable:** Launched a $100 million inaugural fund in 2018., Closed Fund III at $650 million against an original $500 million target., Acquired MetaStable in August 2022.

## Products & services

- **Dragonfly Ventures** — Venture investing in crypto companies and protocols across seed, Series B and later stages; the firm advertises checks from $3 million to over $30 million.
- **Dragonfly Liquid** — Liquid crypto investment strategy identified in the firm’s platform description.
- **MetaStable** — Crypto hedge fund co-founded in 2014 by Naval Ravikant and acquired by Dragonfly in 2022.
- **Founder support and recruiting** — Portfolio recruiting, talent connections, compensation benchmarks and operational support.
- **2024/2025 Crypto Compensation Report** — Public salary, equity and token compensation research with role benchmarks and additional portfolio-only breakdowns.

## Achievements

- Launched a $100 million inaugural fund in 2018.
- Closed Fund III at $650 million against an original $500 million target.
- Acquired MetaStable in August 2022.
- Co-led Conduit’s $36 million Series A in May 2025.
- Led Mesh’s $75 million Series C in January 2026.
- Announced a $650 million fourth venture fund in February 2026.

## Latest updates

- **2026-02** — Announced the $650 million close of Fund IV on February 17.
- **2026-02** — Qureshi’s personal account reported approximately $4 billion under management and about 45 employees.
- **2026-01** — Led Mesh’s $75 million Series C at a $1 billion company valuation.
- **2025-05** — Co-led Conduit’s $36 million Series A with Altos Ventures.

## Links

- Website: https://dragonfly.com/
- LinkedIn: https://www.linkedin.com/company/dragonfly-capital-partners/
- Twitter/X: https://x.com/dragonfly

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Profile page: https://yespress.io/dragonfly
Published by YesPress — https://yespress.io
Last updated: 2026-10-25