Dragonfly closes fourth $650M crypto fund to back tokenized real-world assets and finance infrastructure

Dragonfly Capital has closed its fourth crypto-focused investment fund, securing $650 million for projects centered on tokenized real-world assets and financial infrastructure. The firm plans to back blockchain-based payments, lending, stablecoin systems and traditional-style financial products such as card-like services and money market-style funds. The new raise comes after a period of reduced crypto venture activity and a shift in capital flows toward more mature companies accessing public markets.