New $100 Million Crypto VC Fund Aims to Bridge Asia With the West
Alexander Pack, a crypto asset investor based out of Silicon Valley, has teamed up with Bo Feng, one of China’s most experienced investors, to create Dragonfly Capital Partners, a new $100 million venture capital fund targeting the digital asset industry.
Our new venture fund for the decentralized economy.https://t.co/2qggpGW2BP
— Alexander Pack (@alpackaP) October 9, 2018
According to a recent report by Forbes, the fund intends to invest in a mix of crypto-first funds, protocols and applications, in addition to tech startups working to build out the underlying infrastructure for the emerging token economy.
Dragonfly is particularly interested in bridging Asia’s rapidly growing digital currency markets with startup companies located in the west, as they see these markets as the most important for crypto use cases. Pack and Feng state that this thesis will be driven by an unconstrained approach, opening up its investments to a wider range of tokens and startups.
Speaking to Dragonfly’s early progress and investment model, MetaStable general partner Haseeb Qureshi said, “Despite crypto being a global and 24/7 market, it can often feel like two separate ecosystems between Asia and the West. Having a fund that can toe the line between the two hemispheres is a powerful advantage in being able to identify future trends and preempt where crypto is moving.”
More: This New $100 Million VC Fund Is Looking To Help Crypto Startups Bridge China And Silicon Valley
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.