Dragonfly
VC Fund
Boston, United States
Dragonfly is a VC fund in Boston focused on Blockchain and Internet. Dragonfly engages in acquiring and developing e-commerce businesses. It is a venture-backed business run by versatile pros who’ve founded and managed global operations, dynamic startups, and $60M+ Amazon FBA businesses. The firm was founded in 2019 and is headquartered in Boston, Massachusetts.
- Total investments:
- 8
- Last investment:
- Lead investor:
- 13%
Last updated:
For AI agents: llms.txt
Industries Dragonfly invests in
Stages Dragonfly invests in
Countries Dragonfly invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Round size
- Seed
- $4M–$6.5M
- Series A
- $6M–$25M
Investment Focus
Industry
- Blockchain 3 (38%)
- Internet 2 (25%)
- Finance 1 (13%)
- Ethereum 1 (13%)
- Software 1 (13%)
Stage
- Seed 3 (38%)
- Series A 3 (38%)
- Series B 1 (13%)
- Initial Coin Offering 1 (13%)
Country
- Singapore 2 (25%)
- United States 2 (25%)
- India 1 (13%)
- Cayman Islands 1 (13%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Philip Butler
Founder and CEO
|
Founder and CEO | Total investments: 0 | Find email |
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| We build tools that allows enterprises verify information about a user *before* processing it - whether it is processed by a human or an AI agent.Traditionally, these verifications including but not limited to background checks cost ~$10. Using our advancements in AI and Cryptography, we're able to send that cost to a few cents. Thisenables enterprises to do verification at scale, earlier in their work-flows, and enables new kinds of businesses - which were not performing these verifications because of prohibitively high costs.For example, it makes no sense that a recruiter does a candidate's document verification and background checks AFTER the candidate has cleared all the interviews. That's because that verification is cumbersome and expensive. They can't afford to verify all the candidates at the top of the funnel. Many such workflows are ripe for disruption. Another example of a product that was not possible before. A dating app uses our tools to verify the users' information - including their employment, education and financial background. This was something that would have been too expensive to verify at a $10 pricepoint where the ARPU is only $8. Not only that, we're designing the tools ground up - so that AI agents can utilize these verifications before ingesting information, so that they take action basis truthful information.We have 3 tools1. BlueCheck : our flagship product for background verification. The cheapest option to verify users' employment, education and financial background. A few cents instead of a few tens of dollars. Several Billion Dollar+ revenue companies are customers. A solution designed for enterprises that works out of the box!2. Reclaim Protocol : our underlying infrastructure that makes BlueCheck possible. With advancements in cryptography, specifically zero knowledge proofs - our research over the last 3 years have resulted in inventing a new cryptographic primitive called zkTLS, which allows us to verify information from any website using the cryptography of the existing internet pipes (TLS). This is our secret sauce!3. Questbook : our dog-fooding tool. Questbook is a tool to give out research and open source software development grants. These grants are reviewed by AI agents that we built inhouse. The biggest scam people try is to fake who they are when they are applying for grants. We dog-food our own tools to make sure we verify all the claims the users are making when they apply for grants. Our tools secure more than $10M of grants being given out on the platform. So it's high stakes, and it works! | $8.3M / Series A / May 18, 2022 | ||
| Neon Media produces realtime sets for virtual productions. | $7M / Initial Coin Offering / Apr 11, 2022 | ||
| Hyperspace is a trading platform that offers Solana NFT and NFT flex information and services. | $4.5M / Seed / Feb 15, 2022 | ||
| Bribe is an Incentivized DeFi Governance marketplace platform. Bribe Protocol revolutionizes decentralized governance (dGov) by coordinating those voters into powerful coalitions up for auction so that anyone can benefit from governance marketplaces, not just whales. | $4M / Seed / Jan 12, 2022 | ||
| DeBank is a portal to the brave new world of decentralized finance | $25M / Series A / Dec 28, 2021 | ||
| Matter Labs is scaling Ethereum with zero-knowledge proofs to accelerate public blockchain adoption. The company started out of scientific curiosity, the joy of engineering, and a deep conviction, the most impactful way to improve the world today is to provide an open and free alternative to its existing, deeply flawed financial system.Thecompany was founded in 2018 with its head office in Berlin, Germany. | $50M / Series B / Nov 08, 2021 | ||
| DeFi borrowing and lending platform | $6.5M / Seed / Oct 01, 2021 | ||
| Matter Labs is scaling Ethereum with zero-knowledge proofs to accelerate public blockchain adoption. The company started out of scientific curiosity, the joy of engineering, and a deep conviction, the most impactful way to improve the world today is to provide an open and free alternative to its existing, deeply flawed financial system.Thecompany was founded in 2018 with its head office in Berlin, Germany. | $6M / Series A / Feb 01, 2021 |
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FAQ
What does Dragonfly invest in?
Dragonfly invests primarily in Blockchain, Internet and Finance startups, most often at Seed and Series A stage. Most of the 8 investments tracked by Shizune back companies in Singapore. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What is Dragonfly's check size?
Dragonfly typically joins rounds of $4M–$6.5M at Seed and $6M–$25M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Dragonfly participates in.
How do I contact Dragonfly?
Public channels for Dragonfly include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at Dragonfly?
The team at Dragonfly includes Philip Butler (Founder and CEO). The Team section lists each member with their title, investment count and links.
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 Sep 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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