# Ashwin Ramachandran

> Ashwin Ramachandran is a seed investor at Dragonfly backing Blockchain and Software. See 17 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Dragonfly](https://shizune.co/investors/profile/dragonfly-capital-partners-eed4)
- Total investments: 17
- Last investment: Nov 2025
- Lead investor: 0%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/ashwinr14/

Ashwin Ramachandran is a General Partner at Dragonfly Capital. He was a Research Engineer at ThunderCore. He attended Duke University.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $3.1M–$18M |
| Initial Coin Offering | $4.8M–$150M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Blockchain | 7 | 41% |
| Software | 4 | 24% |
| FinTech | 3 | 18% |
| Financial Services | 3 | 18% |
| Information Technology | 3 | 18% |

16 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 8 | 47% |
| Funding Round | 4 | 24% |
| Initial Coin Offering | 2 | 12% |
| Pre-Seed | 1 | 6% |
| Venture - Series Unknown | 1 | 6% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 4 | 24% |
| United Kingdom | 2 | 12% |
| India | 1 | 6% |
| France | 1 | 6% |
| Australia | 1 | 6% |

6 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Liquid | Liquid is a decentralized trading platform that offers non-custodial crypto trading options. | $7.6M | Seed | Nov 04, 2025 |  |
| INIT Capital | INIT Capital offers Lending, Borrowing, and Access Yield Strategies with Liquidity Hook. | $3.1M | Seed | Feb 21, 2024 |  |
| Veera | Veera is India's first mobile-focused browser that aims to bring users a faster and safer browsing experience. | $6M | Seed | Feb 15, 2024 |  |
| Eclipse | Eclipse customizable blockchain platform powered by Solana enables developers to build apps for Web2. | $6M | Pre-Seed | Sep 27, 2022 |  |
| ZKX | ZKX is a permissionless protocol for derivatives built on StarkNet. | $4.5M | Seed | Jul 14, 2022 |  |
| Morpho Labs | Morpho is an on-chain peer-to-peer layer on top of lending pools. Rates are seamlessly improved for borrowers and lenders while preserving the same guarantees. Morpho combines the efficiency of P2P with the liquidity of lending pools. Users enjoy an improved APY while maintaining the pool’s flexibility | $18M | Seed | Jul 12, 2022 |  |
| Ref Finance | Ref Finance is a DeFi platform built on NEAR Protocol that costs less than $0.01 for transactions. | $4.8M | Initial Coin Offering | Feb 17, 2022 |  |
| Aperture | Aperture is a DeFi cross-chain investment ecosystem. | $5.3M | Seed | Feb 08, 2022 |  |
| Aperture Finance | Cross-chain Investment Made Easy | $5.3M | Seed | Feb 07, 2022 |  |
| NEAR | NEAR is decentralized storage and compute platform that is secure enough to manage high-value assets like money or identity. NEAR is a scalable smart contract platform that supports decentralized applications of almost any kind. Leverage an ecosystem of components backed by cutting edge technology.NEAR was founded in 2017 and is headquartered inCalifornia. | $150M |  | Jan 13, 2022 |  |

10 of 17 investments shown.

## Co-investors
- [Amber Group](https://shizune.co/investors/profile/amber-ai) — VC Fund, 5 deals together
- [Folius Ventures](https://shizune.co/investors/profile/folius-ventures) — VC Fund, 5 deals together
- [MetaWeb Ventures](https://shizune.co/investors/profile/metaweb-ventures) — VC Fund, 5 deals together
- [6th Man Ventures](https://shizune.co/investors/profile/6th-man-ventures) — VC Fund, 4 deals together
- [Alameda Research](https://shizune.co/investors/profile/alameda-research) — VC Fund, 4 deals together
- [Circle Ventures](https://shizune.co/investors/profile/circle-ventures-5201) — VC Fund, 4 deals together

## About Dragonfly

VC Fund · San Francisco, United States

Dragonfly is a venture investment firm that provides capital and strategic support to teams building projects in the cryptocurrency and blockchain ecosystem. The company evaluates blockchain protocols, decentralized finance platforms, and related digital asset initiatives to back technology builders at various stages of development. It maintains aportfolio of investments across token projects, infrastructure protocols, and financial applications in the crypto space. Dragonfly also produces research content that examines trends, technical challenges, and opportunities within the digital assets industry. Its operations involve engaging with founders, assessing technical approaches, and facilitating connections across the broader blockchain community.

5 contacts available at Dragonfly.

| Name | Title | Profile |
| --- | --- | --- |
| Anirudh Pai | Partner | https://shizune.co/investors/profile/anirudh-pai |
| Kitty Wang | Chief Financial Officer | https://shizune.co/investors/profile/kitty-wang |
| Lawrence Diao | General Partner | https://shizune.co/investors/profile/lawrence-diao |
| Ashwin Ramachandran | General Partner | https://shizune.co/investors/profile/ashwin-ramachandran-9cc8 |
| Bo Feng | Managing Partner | https://shizune.co/investors/profile/bo-feng |

## Similar investors

### Similar industry
- [Coinbase Ventures](https://shizune.co/investors/profile/coinbase-ventures) — VC Fund
- [Animoca Brands](https://shizune.co/investors/profile/animoca-brands-corporation) — VC Fund
- [Shima Capital](https://shizune.co/investors/profile/shima-capital) — VC Fund

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar country
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Artesian VC](https://shizune.co/investors/profile/artesian-capital-management) — VC Fund
- [Blackbird Ventures](https://shizune.co/investors/profile/blackbird-ventures-australia) — VC Fund

## Featured in investor lists
- [Web3 Angel Investors in Australia](https://shizune.co/investors/web3-angel-investors-australia)
- [Cryptocurrency Investors in Australia](https://shizune.co/investors/cryptocurrency-investors-australia)
- [Cryptocurrency Investors in Oceania](https://shizune.co/investors/cryptocurrency-investors-oceania)
- [Blockchain Angel Investors in Australia](https://shizune.co/investors/blockchain-angel-investors-australia)
- [Infrastructure Investors in Australia](https://shizune.co/investors/infrastructure-investors-australia)
- [Financial Services Angel Investors in Oceania](https://shizune.co/investors/financial-services-angel-investors-oceania)

## FAQ

### What does Ashwin Ramachandran invest in?

Ashwin Ramachandran invests primarily in Blockchain, Software and FinTech startups, most often at Seed and Funding Round stage. Most of the 17 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Ashwin Ramachandran's check size?

Ashwin Ramachandran typically joins rounds of $3.1M–$18M at Seed and $4.8M–$150M at Initial Coin Offering. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Ashwin Ramachandran participates in.

### When did Ashwin Ramachandran last invest?

The most recent investment recorded for Ashwin Ramachandran closed in Nov 2025. Shizune tracks 17 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co