Dragonfly
Venture capitalActively deployingSan Francisco
Investment thesis
Dragonfly invests in the crypto ecosystem, including blockchain protocols, infrastructure, and tokens. The firm publishes research on compensation structures for crypto teams, stablecoin adoption, airdrops, and emerging trends in blockchain technology. Through the acquisition of Metastable, Dragonfly has established early-stage investment credentials, having backed projects like Ethereum, Avalanche, Cosmos, Starkware, NEAR, Zcash, Filecoin, Dfinity, and Algorand.
Source: firm website, verified Jul 21, 2026.
What they invest in
from 7 of 16 portfolio companiesCrypto & Web3 Γ5Fintech Γ3Developer Tools Γ2Enterprise Software Γ2SaaS Γ2AI & Machine Learning Γ1Cloud Computing Γ1Cybersecurity Γ1
HQs:United StatesΓ2
Investments Β· 16 tracked
founders shown can be your intro pathAptos Labs develops a Layer 1 blockchain platform using the Move programming language and parallel execution technology, serving developers and users building decentralized applications.
Crypto & Web3Developer ToolsNew York City, US
Avery Ching(CEO and Co-Founder)Alin Tomescu(Head of Cryptography)Greg Nazario(Software Engineer)Josh Lind(Software Engineer)
BitDAO operates Mantle Network, an Ethereum Layer 2 blockchain using zero-knowledge proofs, along with a treasury and token-holder governed product roadmap. The organization manages the Mantle EcoFund, a $200M investment vehicle that funds ecosystem projects and provides venture capital support to blockchain-based initiatives.
Crypto & Web3Fintech
Blowfish provides fraud detection and prevention APIs for Web3 wallets, identifying and blocking malicious transactions and decentralized applications across 10+ blockchain networks. The platform serves wallet providers and integrators with transaction security, dApp connection verification, and risk signal aggregation.
Crypto & Web3Cybersecurity
Dragonfly is a local broadband provider in Southwest Alabama offering high-speed fiber internet, WiFi services, and phone lines to residential and business customers. The company builds its own network infrastructure and emphasizes no-contract plans, no data caps, and customer support.
Cloud ComputingMonroeville, US
<UNKNOWN>
Rain builds stablecoin infrastructure for financial institutions and partners, providing payment cards accepted at millions of merchant locations, digital wallets, and global settlement rails. The company enables financial services providers to integrate blockchain-based payment capabilities while maintaining existing user experiences.
Crypto & Web3FintechSaaS
BigPanda provides an AI-powered platform for IT operations that automates incident management, change management, and service desk workflows for enterprise IT teams. The platform uses agentic AI to reduce manual ITOps work, accelerate incident resolution, and prevent outages.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS
Matter Labs builds Prividium, an Ethereum-secured blockchain platform designed for banks and financial institutions to issue, settle, and manage digital assets with privacy and compliance controls. The company also develops ZKsync, a zero-knowledge scaling solution for Ethereum, and the open-source ZK Stack framework.
Crypto & Web3Enterprise SoftwareFintech
Frequently asked questions
- What sectors does Dragonfly focus on?
- Dragonfly focuses on Crypto & Web3.
- Where is Dragonfly located?
- Dragonfly is headquartered in San Francisco, US.
Images
Similar investors
a16z is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz that invests in seed through growth-stage technology companies across multiple sectors including AI, healthcare, consumer, crypto, enterprise, fintech, and gaming. The firm manages over $100 billion in assets and operates a distinctive platform model with a large team of operators supporting founders throughout their journey.
Bessemer Venture Partners is a venture capital firm with a 50-year history supporting entrepreneurs in building enduring companies globally. The firm draws on deep operational expertise and advisory relationships to support portfolio companies through their growth journey.
A global venture capital firm specializing in synthetic realityβthe convergence of physical and digital worlds. The firm focuses on seed through series B investments in gaming, interactive media, Web3, and AI technologies.
A research-centric, thesis-driven investment firm that conducts extensive research to develop investment theses across multiple areas and emerging futures.
Tennr streamlines patient flow in healthcare by automating referral management, insurance verification, clinical context aggregation, and appointment scheduling. The platform processes referrals and intake documentation for approximately 10% of Americans annually.