About DRAGONFLY
DRAGONFLY is a venture capital firm founded in 2018. It is primarily based out of Oakland, United States. As of Aug 2026, DRAGONFLY is an active investor, having invested in 170 companies, with 9 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Blockchain Technology to High Tech and FinTech. Most recently it participated in the $***** Seed round of City Protocol Overall, DRAGONFLY portfolio has seen 20 unicorns and 13 acquisitions including key companies like Consensys, Aptos and Animoca Brands. A lot of funds co-invest with DRAGONFLY, with names like Coinbase sharing a substantial percentage of its portfolio. DRAGONFLY has team of 24 people including 12 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio Acquisitions
Deals in last 12 months
DRAGONFLY's List of Top Investments
DRAGONFLY has a portfolio of 170 companies, including 20 unicorns. Their most notable investments are in Caldera and Bitget.Their portfolio spans across United States, China, United Kingdom and 29 more locations. They have invested in Blockchain Technology, High Tech, FinTech, FinTech and 17 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by DRAGONFLY:
1. Consensys
Developer of blockchain and web3 software platform. Its product suite includes MetaMask, Infura, Linea, Truffle, Diligence, and an NFT platforms that supports users with building a dApp, an NFT collection, a portfolio, managing digital assets, and more.
Key facts about Consensys
- Founded Year: 2014
- Location: Fort Worth (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $725M
- Employee Count: 730 as on Aug 31, 2026
- Investors: Marshall Wace, Next Round Capital and 58 Others
- Latest Funding Round: Series D, Nov 09, 2022, $*****
- Highlight: Editors' Pick
2. Aptos
Provider of protocols for building blockchain-based solutions. It offers users with a platform focused on building blockchain-based products and applications. It develops network tooling and ensures usability in order to offer the benefits of decentralization to the masses.
Key facts about Aptos
- Founded Year: 2021
- Location: Palo Alto (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $350M
- Employee Count: 166 as on Aug 31, 2026
- Investors: Brighton Park Capital, Scribble Ventures and 33 Others
- Latest Funding Round: Series D, Sep 19, 2024, $*****
- Highlight: Editors' Pick
Web3 technology investment and venture-building company. It builds, invests in, and accelerates businesses and ecosystems focused on digital ownership. Its activities span blockchain, digital assets, gaming, identity, education, stablecoins, real-world assets, and related Web3 infrastructure, with investments and portfolio companies across the global digital economy.
Key facts about Animoca Brands
- Founded Year: 2006
- Location: Hong Kong (China)
- Annual Revenue: $100M - $500M as on Dec 31, 2022
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $880M
- Employee Count: 314 as on Aug 31, 2026
- Investors: Harmony Partners, Backstage and 126 Others
- Latest Funding Round: Series C, Nov 11, 2024, $*****
- Highlight: Editors' Pick
4. NEAR
Public blockchain network platform. The solution is a scalable smart contract platform that supports decentralized applications of any kind and enables the developers to build, test, and deploy applications that permissionless handle a wide range of digital assets.
Key facts about NEAR
- Founded Year: 2017
- Location: Zug (Switzerland)
- Stage: Series D
- Total Funding till date: $542M
- Employee Count: 145 as on Aug 31, 2026
- Investors: RAA Capital, Republic Capital and 91 Others
- Latest Funding Round: Series D, May 10, 2022, $*****
- Highlight: Editors' Pick
5. Amber Group
Provider of blockchain-based financial solutions. It provides users with crypto-based financial services like payments, exchanges, and wallets. It also allows users to buy, sell, and trade digital currencies, including Bitcoin, Ripple, and Ethereum. It also offers collateralized loans across stable coins and multiple currencies. It also provides margin trading and OTC liquidity solutions.
Key facts about Amber Group
- Founded Year: 2017
- Location: Singapore (Singapore)
- Annual Revenue: $0 - $1M as on Sep 30, 2018
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $628M
- Employee Count: 614 as on Aug 31, 2026
- Investors: Temasek, Base Partners and 32 Others
- Latest Funding Round: Series C, Dec 16, 2022, $*****
- Highlight: Editors' Pick
DRAGONFLY's Year-on-Year Investment Trends
DRAGONFLY has invested in 171 companies over the last 8 years, with an average of 23 new investments annually in the last 5 years. In 2025, it made 15 investments, while as of Aug 2026, it has made 9 investments in this year. Its most recent first time investment was in City Protocol and most recent follow-on round was in Rain.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 8 | 1 | 9 |
2025 | 11 | 4 | 15 |
2024 | 15 | 7 | 22 |
2023 | 15 | 1 | 16 |
2022 | 45 | 10 | 55 |
2021 | 32 | 6 | 38 |
2020 | 10 | 0 | 10 |
2019 | 8 | 1 | 9 |
2018 | 2 | 0 | 2 |
DRAGONFLY's Investments by Stage
DRAGONFLY has made 85 investments in Seed stage with an average round size of $6.76M, 40 investments in Series A stage with an average round size of $18.8M, 14 investments in Series B stage with an average round size of $63.6M, 5 investments in Series C stage with an average round size of $114M and 2 investments in Angel stage with an average round size of $11.5M.Stage of entry | No. of Investments |
|---|---|
Seed | 85 |
Series A | 40 |
Series B | 14 |
Series C | 5 |
Angel | 2 |
Note: We have considered here, only first round of investments
DRAGONFLY's Investments by Sector
DRAGONFLY has a diverse portfolio, with companies operating in the Blockchain Technology, FinTech, Blockchain - Industry Applications, High Tech and Enterprise Applications. Notably, it has invested in 155 Tech companies, 134 Blockchain companies, 106 Consumer (B2C) companies and at least 87 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Blockchain Technology | 115 |
FinTech | 105 |
Blockchain - Industry Applications | 94 |
High Tech | 85 |
Enterprise Applications | 29 |
Others | 70 |
Note: We have considered here, only first round of investments
DRAGONFLY's Investments by Geography
DRAGONFLY has made most investments in United States (77), followed by United Kingdom where it has made 10 investments.Country | No. of Investments |
|---|---|
United States | 77 |
United Kingdom | 10 |
Singapore | 9 |
China | 8 |
Switzerland | 4 |
Others | 32 |
Note: We have considered here, only first round of investments
DRAGONFLY's recent investments
DRAGONFLY has made 9 investments in 2026 so far. City Protocol and Sapiom are the latest among them.Here are the most recent investments by DRAGONFLY:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 26, 2026 | - | Seed | 2502 | [+4] | |
Aug 05, 2026 | India | Series A | 7918 | [+9] | |
Jul 14, 2026 | United Kingdom | Series A | 8800 | [+6] | |
Jul 01, 2026 | United States | Series A | 6285 | [+5] | |
May 20, 2026 | Cayman Islands | Series A | 4013 | [+1] |
Unicorns in DRAGONFLY's Portfolio
DRAGONFLY has 20 unicorns in its portfolio - Venice, Meshpay, Rain and others. The most recent unicorn in their portfolio is Venice. It became a unicorn in 2026.Here is a list of unicorns in DRAGONFLY's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
55 | Provider of private artificial intelligence models for text, images, and code | 2024 | Sheridan | Series A | tijxyq{ | ||
50 | Provider of crypto payment solutions across exchanges, wallets, and providers | 2020 | San Francisco | Series C | cgximbr | ||
60 | Stablecoin-powered cards and payments infrastructure for a fluid financial system | 2021 | Brooklyn | Series C | nf{ffuv | ||
74 | Online platform providing crypto-based betting games and activities | 2020 | New York City | Series D | nyvrbta | ||
49 | Decentralized, developer forward layer1 smart contract platform | 2022 | New York City | Series A | wahpfsv |
Acquired companies in DRAGONFLY's Portfolio
13 companies from DRAGONFLY's portfolio have been acquired. The most recent acquisition was Bloxroute in Jul 2026 by FalconX for $*****.Here are DRAGONFLY's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 16, 2026 | Apr 12, 2022 | Series B | 6899 | |
Jul 16, 2025 | Feb 27, 2019 | Seed | 1645 | |
Jul 11, 2025 | Jun 22, 2020 | Seed | 9243 | |
Jan 31, 2025 | Oct 19, 2022 | Series A | 6591 | |
Jan 02, 2025 | May 08, 2024 | Seed | 9423 |
Team profile of DRAGONFLY
DRAGONFLY has a team of 24 members including 12 Partners and 6 Principals located in United States, China and 1 more location. DRAGONFLY's team does not sit on the board of any company as of now.Here is a list of top team members in DRAGONFLY:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Beijing | - | ||
Partner | San Francisco | - | ||
Partner | New York | - | ||
Partner | New York | - | ||
Partner | New York | - | - | |
Partner | New York | - | ||
Partner | New York | - | ||
Partner | - | - | - | |
Partner | New York | - | - | |
Partner | United States | - | ||
Partner | United States | - | - |
Co-investors of DRAGONFLY
Over the past 8 years, 1254 investors have co-invested in DRAGONFLY's portfolio companies. This includes funds and angels.
- Invested before DRAGONFLY: Coinbase, CMT Digital and 244 others have invested in rounds before DRAGONFLY. There are 5 companies where Coinbase has invested before DRAGONFLY and 3 companies where CMT Digital has invested before DRAGONFLY.
- Top Co-investors of DRAGONFLY: 677 investors entered a company along with DRAGONFLY. These include investors like Coinbase (22 companies).
- Invested after DRAGONFLY: A total of 331 investors have invested in DRAGONFLY's portfolio after their investments. Top Investors include Coinbase (7 companies), Paradigm (6 companies) and Wintermute (5 companies).
Recent News related to DRAGONFLY
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Coinbase appoints former Musk companies executive Anthony Armstrong to boardThe Tribune•Sep 03, 2026•Coinbase, DRAGONFLY
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City Protocol Secures $11 Million in Seed and Pre-A Rounds with Support from Dragonfly, Jump Crypto, and CMT DigitalChainCatcher•Aug 25, 2026•Jump Crypto, Mirana, Stratified Capital, CMT Digital and 2 others
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Sapiom Secures $35 Million Series A to Control AI Agent CostsPYMNTS.com•Aug 06, 2026•Sapiom, DragonFly MAX, Formus Capital, Gradient Ventures and 5 others
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Velocity Raises $38 Million Series A to Facilitate Stablecoin Payments for BusinessesDnyuz•Jul 14, 2026•Capital One Ventures, FirstMark, Wintermute, Coinbase and 6 others
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Velocity Raises $38 Million to Expand Stablecoin Treasury PlatformVentureburn•Jul 14, 2026•Capital One Ventures, QED Investors, Activant Capital, FirstMark and 5 others
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Venice AI Secures $65M Series A at $1B Valuation for Privacy-First AI Platform ExpansionThe SaaS News•Jul 02, 2026•Venice, DRAGONFLY, Dragonfly, North Island Ventures and 2 others
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Variational Raises $50M to Power Crypto DerivativesVentureburn•May 20, 2026•DRAGONFLY, Variational, Bain Capital, Coinbase and 1 other
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Mesh, a Plaid for Crypto, Secures $75 Million Funding at $1 Billion ValuationCrowdfund Insider•Jan 28, 2026•DRAGONFLY, Meshpay, SBI Mutual Fund, Moderne Ventures and 7 others
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Crypto Payments Network Mesh Hits Unicorn Status in $75M Series C Led by DragonflyNftgators•Jan 27, 2026•Meshpay, DRAGONFLY, Paradigm, SBI Investment and 3 others
