EntityEngine
Venture Capital

Dragonfly Capital

Global crypto fund bridging US and Asian markets with deep DeFi and infrastructure expertise

San Francisco, USAEst. 2018$650M+ across multiple funds
Visit website

Quick Facts

Best For
Founders building DeFi or infrastructure who want US + Asia market access from a single investor relationship
Check Size
$500K–$50M+
Stage
Seed through Growth

Overview

Dragonfly Capital has carved out a unique position as the crypto fund that genuinely bridges Western and Eastern markets — with partners and network in both Silicon Valley and Asia's leading Web3 ecosystems. The fund's deep DeFi expertise (several partners have written seminal DeFi research) combined with strong APAC relationships makes it particularly valuable for projects seeking to build presence in both markets simultaneously. Dragonfly is one of the few funds that can credibly introduce founders to both top-tier US institutions and leading Asian exchanges and family offices.

Focus Areas

DeFi Protocol DesignL1 & L2 InfrastructureConsumer CryptoCross-chain & InteroperabilityAsian Market ExpansionStablecoins & Payments

Who They Back

DeFi Protocol FoundersInfrastructure Builders with Asia AmbitionsCross-chain Technology Teams

Notable Portfolio

CompoundMakerDAOdYdXCeloAptosAvail

Key Partners

  • Haseeb Qureshi (Managing Partner)
  • Tom Schmidt (Managing Partner)
  • Mia Deng (Partner, Asia)

How to Approach

Warm introductions preferred; Dragonfly partners are active writers and speakers — engaging with their public work increases visibility

Office Locations

SingaporeBeijing

Frequently Asked Questions about Dragonfly Capital

What is Dragonfly Capital's check size range?
Dragonfly writes checks from $500K to $50M+, with $650M+ deployed across multiple funds. The fund can lead or participate across a wide range of deal sizes, from early seed-stage infrastructure investments to large growth rounds for established DeFi protocols — giving founders flexibility in how they engage Dragonfly as a lead or co-investor.
Does Dragonfly genuinely bridge US and Asian markets?
Yes — this is one of Dragonfly's genuine and distinctive capabilities. The fund has partners and networks across Silicon Valley and Asia (Singapore and Beijing), and managing partner Mia Deng specifically covers Asian market relationships. For projects targeting both Western institutional investors and Asian exchanges, family offices, or retail ecosystems, Dragonfly can credibly open doors in both simultaneously — a rare capability.
How do I approach Dragonfly Capital?
Dragonfly prefers warm introductions, though the fund's partners — Haseeb Qureshi, Tom Schmidt, and Mia Deng — are active writers and speakers. Engaging seriously with Haseeb Qureshi's public DeFi and crypto economics writing (extensively published on his blog and X) or Tom Schmidt's work increases visibility and demonstrates genuine intellectual alignment with the fund's thesis. Conference introductions at events in both the US and Asia are also effective.
What types of projects does Dragonfly most want to back?
Dragonfly's deepest conviction is in DeFi protocol design, L1 and L2 infrastructure, cross-chain and interoperability projects, and consumer crypto — particularly those with US + Asia market ambitions. The fund's unique value is strongest for founders who want to build meaningful presence in both Western and Asian markets from a single investor relationship, rather than running two separate fundraising processes for different geographic investor bases.
Who are the key partners at Dragonfly Capital?
Haseeb Qureshi and Tom Schmidt are the managing partners based in San Francisco, while Mia Deng is the partner covering Asian market relationships from Singapore. Haseeb is one of the most widely-read public writers in DeFi — his research on AMM design, MEV, and DeFi economics is cited across the industry and reflects the fund's intellectually serious investment approach.
What stage does Dragonfly invest at?
Dragonfly invests from seed through growth, participating meaningfully at multiple stages of a project's development. The fund has backed early-stage DeFi infrastructure and also participated in large growth rounds, maintaining the flexibility to be a long-term partner across fundraising cycles for its highest-conviction portfolio companies.

Setting up a business entity?

If you're working with Dragonfly Capital, you may need a properly structured entity. EntityEngine handles incorporation in 15+ jurisdictions — with fast setup and bank-ready documentation.

Explore incorporation options

Web3 events in this region

Discover upcoming Web3 conferences, hackathons, and summits where you can meet advisors and investors.

Browse events

Related Venture Capital Listings

Pantera Capital

Venture Capital

The longest-running US crypto fund — early Bitcoin institution now spanning the full Web3 stack

Menlo Park, USA
BitcoinEarly-stage Token ProjectsDeFi Infrastructure+3

Best for: Founders who want a credible long-term institutional crypto investor with deep regulatory relationships and multi-fund flexibility

View profile

Coinbase Ventures

Venture Capital

Strategic corporate VC backing the ecosystem Coinbase wants to help build

San Francisco, USA
Ethereum & Base EcosystemDeFi ProtocolsWallet & UX Infrastructure+4

Best for: Early-stage founders who want exchange ecosystem access, institutional credibility, and a fast-moving corporate VC decision process

View profile

HashKey Capital

Venture Capital

Asia's most regulated and institutionally credible Web3 investment firm

Hong Kong
Asian Web3 EcosystemDeFi & InfrastructureInstitutional Digital Assets+4

Best for: Founders seeking Hong Kong/Asian regulatory credibility, institutional distribution, and exchange ecosystem access in APAC

View profile
crypto VCventure capitalDeFi investmentUS Asia cryptoL1 L2cross-chainstablecoinsUSASingaporeAsia crypto fund

This directory is compiled from publicly available information and may contain inaccuracies or outdated details. Listings do not imply endorsement or a commercial relationship unless explicitly stated. If you represent a listed organisation and would like to request amendments or removal, please contact us at support@entityengine.io.