Crypto-focused venture firm Dragonfly acquires hedge fund: Bloomberg

2022.08.16 07:13

Crypto-focused venture firm Dragonfly acquires hedge fund: Bloomberg

Cryptocurrency venture firm Dragonfly has acquired a digital asset-focused investment fund for an undisclosed amount — a move that managing partner Haseeb Qureshi said mirrors the broad consolidation trend underway in the industry.

Bloomberg reported Monday that Dragonfly purchased MetaStable Capital, a hedge fund co-founded by Naval Ravkiant in 2014, for an undisclosed sum. In doing so, Dragonfly dropped the word “Capital” from its name and underwent a complete rebranding to reflect its growing mandate in the digital asset space.

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