Dragonfly Funds, a outstanding undertaking money corporation operating in the cryptocurrency sector, has announced 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 World wide, KKR, Sequoia China and Invesco, between other people, and arrived at a little bit higher than the $500 million to begin with declared to the Securities and Exchange Commission in a Form D filing in January.

The introduction of Dragonfly Fund III was coupled with a pledge to distribute economical help to projects at seed to Collection B funding stages within just the sectors of decentralized finance, crypto gaming and the metaverse, among other folks.

Gm anons!

We are launching Dragonfly Fund III, a $650M crypto undertaking fund—our premier fund at any time.

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

Excited to be a compact element of the up coming chapter of this business.https://t.co/YuN5oz1v9v

— Haseeb Qureshi (@hosseeb) April 27, 2022

The Cayman Island-centered company is normally positioned at the forefront of the industry’s most popular undertaking raises, acquiring invested in 54 tasks, which includes Avalanche’s $12 million private token sale in June 2020, Dune Analytics’ $2 million seed spherical in September 2020, and Dydx’s $10 million Collection A in Oct 2018, amid other folks.