Dragonfly is a global crypto investment firm. Its own ethos statement says it is 'a team of deeply technical crypto-natives', that it invests across stages 'from seed to Series B and beyond', that its checks go 'anywhere from $3M to $30M+', and that it invests globally with offices in New York City and Singapore. Its homepage says it backs 'the best researchers and builders who will push the entire crypto ecosystem forward' and that it backs teams 'from protocols to exchanges to apps and beyond' across sectors and stages. The firm groups its own portfolio under CeFi, DeFi, Infrastructure, L1/L2s, NFT and Stablecoin. Since 2022 the firm has described itself as comprising three parts: Dragonfly Ventures, Dragonfly Liquid and MetaStable.
2018
Dragonfly Capital Partners announces a $100 million inaugural crypto fund on 9 October 2018, founded by managing partners Alexander Pack (previously of Bain Capital Ventures) and Bo Feng (founding partner of Ceyuan Ventures), with the firm described in the release as based in San Francisco.
2019
Haseeb Qureshi joins Dragonfly, per Fortune's February 2026 profile of the firm.
2020
Dragonfly Ventures II, L.P. files its Form D with the SEC on 16 December 2020; Fortune reports the second fund at $225 million, closed in late 2020.
2022
Dragonfly closes its third venture fund, Dragonfly Ventures III, with $650 million in capital commitments, announced 27 to 28 April 2022 after an initial $500 million target.
2022
Dragonfly acquires the crypto hedge fund MetaStable and rebrands, dropping 'Capital' from the name and moving to dragonfly.xyz, announced by Haseeb Qureshi on 15 August 2022.
2026
Dragonfly closes its fourth venture fund at $650 million, reported 17 February 2026.
2026
Avalanche Treasury Corp lists on Nasdaq as AVAT on 11 June 2026 after merging with Mountain Lake Acquisition Corp; Dragonfly Digital Management, LLC and the Dragonfly Ventures funds contributed 1,960,040 AVAX for 5,805,639 units and Dragonfly General Partner Rob Hadick joined the board.