Crypto VC Fund Dragonfly Seeks to Raise a $500 Million Fund (1)

Crypto venture capital firm Dragonfly Capital is seeking to raise $500 million for its fourth fund, which will invest in early-stage projects, according to a person with knowledge of the matter.

The San Francisco-based firm has garnered $250 million so far and aims to close the fundraising by next year’s first quarter, the person said, asking not to be named as the details aren’t public yet.

Dragonfly joins a list of crypto VC funds tapping investors as the industry recovers from the crisis that shook it two years ago, with Robot Ventures and Paradigm among firms ...