# Dragonfly Capital

> Dragonfly Capital is a VC fund backing Blockchain and Cryptocurrency. See 29 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Charlotte, United States
- Total investments: 29
- Last investment: May 2026
- Lead investor: 38%
- Last updated: Aug 2026
- Website: http://www.dragonflycapital.com/

Dragonfly Capital is an investment banking firm headquartered in Charlotte, North Carolina. They focus on the specific needs of management and owners of small and middle-market companies. Dragonfly Capital assists business owners seeking liquidity and private companies seeking capital for growth.Dragonfly Capital works with companies in sectorssuch as Energy, Manufacturing, Business Services, Healthcare Services and Tech-Enabled Services.

## Contacts

5 contacts available for Dragonfly Capital. Shizune tracks 2 team members at Dragonfly Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/dragonfly-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $3.9M–$20M |
| Series A | $10M–$50M |
| Venture - Series Unknown | $6M–$230M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Blockchain | 11 | 38% |
| Cryptocurrency | 9 | 31% |
| Software | 7 | 24% |
| Financial Services | 6 | 21% |
| Apps | 3 | 10% |

27 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 13 | 45% |
| Venture - Series Unknown | 6 | 21% |
| Series A | 4 | 14% |
| Funding Round | 3 | 10% |
| Private Equity | 1 | 3% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 10 | 34% |
| Hong Kong | 2 | 7% |
| Singapore | 2 | 7% |
| Canada | 1 | 3% |
| Panama | 1 | 3% |

9 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Don Millen Millen | Co-Founder & Managing Director | 0 | https://shizune.co/investors/profile/don-millen-millen |
| Rene' Matthews-Usher | Co-Founder & Managing Director | 0 | https://shizune.co/investors/profile/rene-matthews-usher |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Variational | Variational is a decentralized liquidity network for bilateral derivatives that automates the process of trading and clearing end-to-end. | $50M | Series A | May 20, 2026 |  |
| Hello Trade | Hello Trade aims to provide users with easy, accessible, and flexible opportunities to make leveraged investments in stocks, ETFs, raw materials, virtual assets, and more, enabling individuals around the world to participate in global financial markets with greater convenience and control. | $4.6M | Seed | Nov 20, 2025 |  |
| ZAR | ZAR is a financial software company that develops a digital dollar wallet designed to bridge the gap between cash-based economies and Web3. | $12.9M | Venture - Series Unknown | Oct 28, 2025 |  |
| ZAR | ZAR establishes a connection between cash-based economies and the web3 framework, facilitating adoption of stablecoins. | $12.9M | Seed | Oct 28, 2025 |  |
| Rhea Finance | Rhea Finance is a multi-purpose decentralized finance platform that provides chain-abstracted liquidity solutions. | $4.5M | Seed | Jul 30, 2025 |  |
| ZAR | ZAR is a financial software company that develops a digital dollar wallet designed to bridge the gap between cash-based economies and Web3. | $7M | Seed | Apr 30, 2025 |  |
| ZAR | ZAR is a company that bridges the gap between cash-based economies and web3, hastening stablecoin adoption for those who require it most. | $12.9M | Seed | Apr 30, 2025 |  |
| Pocket Protector | Pocket Protector is a prime social-first platform and Solana spot trading experience, featuring a Telegram bot that allows users to discover, follow, and copy top traders. It enables direct trading in group chats, setting stop-loss and take-profit points, and monetizing their trading network through referral and copier profit-sharing features. |  | Seed | Apr 01, 2025 |  |
| Usdx money | USDX is a synthetic USD stablecoin that employs a multicoin arbitrage strategy as backing, maintaining a delta neutral approximate dollar position through balanced trading across various digital assets. | $45M | Seed | Nov 29, 2024 |  |
| Revel.xyz | Revel.xyz is a Web3 personal media collecting and trading platform, forming communities around shared assets and people. | $7.8M | Seed | Dec 19, 2022 |  |

10 of 29 investments shown.

## Co-investors
- [Coinbase Ventures](https://shizune.co/investors/profile/coinbase-ventures) — VC Fund, 7 deals together
- [Andreessen Horowitz](https://shizune.co/investors/profile/andreessen-horowitz) — VC Fund, 4 deals together
- [The Spartan Group](https://shizune.co/investors/profile/the-spartan-group-4202) — VC Fund, 4 deals together
- [VanEck](https://shizune.co/investors/profile/vaneck) — VC Fund, 4 deals together
- [Ascensive Assets](https://shizune.co/investors/profile/ascensive-asset-management) — VC Fund, 3 deals together
- [Endeavor Catalyst](https://shizune.co/investors/profile/endeavor-catalyst) — VC Fund, 3 deals together

## Similar investors

### Similar industry
- [SOSV](https://shizune.co/investors/profile/sosv) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — 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
- [Ukrainian Startup Fund](https://shizune.co/investors/profile/ukrainian-startup-fund) — VC Fund
- [SMRK VC Fund](https://shizune.co/investors/profile/smrk-vc-fund) — VC Fund
- [European Bank for Reconstruction and Development](https://shizune.co/investors/profile/european-bank-for-reconstruction-and-development-ebrd) — VC Fund

## Featured in investor lists
- [Finance Investors in Canada](https://shizune.co/investors/finance-investors-canada)
- [Finance VC Funds in Canada](https://shizune.co/investors/finance-vc-funds-canada)
- [Software VC Funds in Ukraine](https://shizune.co/investors/software-vc-funds-ukraine)
- [Consumer Investors in Ukraine](https://shizune.co/investors/consumer-investors-ukraine)
- [Consumer VC Funds in Ukraine](https://shizune.co/investors/consumer-vc-funds-ukraine)
- [SaaS VC Funds in Ukraine](https://shizune.co/investors/saas-vc-funds-ukraine)

## FAQ

### What does Dragonfly Capital invest in?

Dragonfly Capital invests primarily in Blockchain, Cryptocurrency and Software startups, most often at Seed and Venture - Series Unknown stage. Most of the 29 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 Dragonfly Capital's check size?

Dragonfly Capital typically joins rounds of $3.9M–$20M at Seed, $10M–$50M at Series A and $6M–$230M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Dragonfly Capital participates in.

### How do I contact Dragonfly Capital?

Public channels for Dragonfly Capital include 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 Capital?

The team at Dragonfly Capital includes Don Millen Millen (Co-Founder & Managing Director) and Rene' Matthews-Usher (Co-Founder & Managing Director). 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 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