DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Dragonfly Digital Management, LLC
Dragonfly Digital Management, LLC
Corporate venture · probableOakland, CAdragonfly.xyzSEC registered investment adviserfundraising evidence
Dragonfly is a leading crypto investment fund. We back the best researchers and builders who will push the entire crypto ecosystem forward.
corporate parent: Dragonfly Holding LLC, a Cayman Limited Company
Importance
32
moderate
Active deployment
68
high
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
21
moderate
Identity and regulatory footprint
- Headquarters
- San Francisco, CAadviserinfo.sec.gov
- Office address
- 66 FRANKLIN ST, SUITE 300, San Francisco, CA, 94707adviserinfo.sec.gov
- Business phone
- 415-795-8868adviserinfo.sec.gov
- Website
- https://dragonfly.xyz
- SEC adviser type
- registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 7 (4 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $3.5Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $3.4Bthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 34
- Owners on Schedule A
- Dragonfly Management Limited (Owner), E; Dragonfly Holding LLC, a Cayman Limited Company (Owner), E; NEW Select Ventures Limited (Co-Owner), D
- business phone
- 415-795-8868adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
2 observed deals
Stated (the firm’s website)
- Sectors
- ai, fintech, defense, crypto
- Stages
- seed, series b
- Geography
- asia, global, globally, new york, singapore
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation
series c 100%
Stage at first entry
series c 100%
Sectors
unknown 100%
lead rate 0%follow-on rate 0%new logos, 12 months 2
Funds and vehicles
5 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| DF Holdco L.P. | Fund | 2026 form d first sale | Newly closed | unknown | unknown | $120M of $120M | May 7, 2026 |
| Dragonfly Ventures IV, L.P. | Fund | 2024 form d first sale | Fundraising | unknown | unknown | $432M of $650M | Oct 30, 2025 |
| Dragonfly Ventures III, L.P. | Fund | 2022 form d first sale | Active deployment | $743M Mar 29, 2024 | 153 | $650M of $650M | May 6, 2022 |
| Dragonfly Ventures II, L.P. | Fund | 2022 adv first reported | Active deployment | $452M Mar 29, 2024 | 77 | $0 of $200M | Dec 16, 2020 |
| DCP Scout Feeder, L.P. | Feeder or parallel | unknown | Fundraising | unknown | unknown | $0 of $25.0M | Oct 24, 2025 |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
3 current, 3 departed
BO Feng
Managing partnerManaging Member · since Aug 1, 2019
Haseeb Ahmad Qureshi
PartnerCo-Owner · since May 1, 2022
Scott Hershorin
Platform and operationsChief Compliance Officer / Vp Of Operations · since Mar 1, 2022
3 departed (kept with end dates)
- Alexander H Pack · Manager And Member · Dec 1, 2018 to Mar 29, 2021 Inference
- Chen Yuan · Manager And Member · Dec 1, 2018 to Mar 31, 2022 Inference
- Haseeb Ahmad Qureshi · Manager · May 1, 2020 to Mar 31, 2022 Inference
Investments on record
2 edges, 2 companies, 0 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Press Kit | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Venture organization websites (about, team, portfolio, thesis, news pages) |
| Rain | Series C · Series C | participant | unknown | $250M | unknown | Jan 9, 2026 | Fact Press release wires (Business Wire, PR Newswire, GlobeNewswire public RSS) |
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
10 relationships from shared deals, counted for the whole firm
J2 Ventures Advisors, LLC 1 shared · one timeMeta Stable, LLC 1 shared · one timeExceptional Capital, LLC 1 shared · one timeSapphire Ventures, LLC 1 shared · one timeLightspeed Venture Partners 1 shared · one timeNorwest 1 shared · one timeIconiq Capital, LLC 1 shared · one time · they led 1Firstmark Capital, LLC 1 shared · one timeBessemer Venture Partners 1 shared · one timeGalaxy Ventures 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
9 dated events
- Aug 11, 2022Dragonfly Ventures III, L.P. first reported on Form ADV by Dragonfly Digital Management, LLC (Venture Capital Fund), GAV $644,255,950Fund first reported on Form ADVFundsFactDragonfly Ventures III, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- May 1, 2022Haseeb Ahmad Qureshi joined Schedule A of Dragonfly Digital Management, LLC as Co-Owner
- Mar 31, 2022Chen Yuan (Manager And Member) no longer on Schedule A of Dragonfly Digital Management, LLC
- Mar 31, 2022Dragonfly Ventures II, L.P. first reported on Form ADV by Dragonfly Digital Management, LLC (Venture Capital Fund), GAV $641,101,822Fund first reported on Form ADVFundsFactDragonfly Ventures II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Haseeb Ahmad Qureshi (Manager) no longer on Schedule A of Dragonfly Digital Management, LLC
- Mar 1, 2022Scott Hershorin joined Schedule A of Dragonfly Digital Management, LLC as Chief Compliance Officer / Vp Of Operations
- Mar 29, 2021Alexander H Pack (Manager And Member) no longer on Schedule A of Dragonfly Digital Management, LLC
- Nov 10, 2019Dragonfly Digital Management, LLC first filed Form ADV (ERA)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Aug 1, 2019BO Feng joined Schedule A of Dragonfly Digital Management, LLC as Managing Member
Classification history
- Sep 12, 2026Corporate venture (probable, 80%, cls-1)corporate parent: Dragonfly Holding LLC, a Cayman Limited Company
Evidence
56 observations from 3 sources