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With its fast-moving prices setting the stage for potential big returns, venture capital (VC) firms have been flocking into the crypto space lately. But newcomer crypto-dedicated fund Dragonfly Capital Partners believes it has what it takes to make a name for itself in the highly competitive niche—a sizable $100-million war chest and a novel investment strategy to try out in the fast-moving market.

Alexander Pack, a young cryptocurrency venture capitalist and one of the managing partners of Dragonfly Capital Partners, believes that unlocking full potential in crypto investment needs a new approach. According to Pack, who was previously connected with Bain Capital Ventures, older firms might be at a disadvantage when navigating the crypto waters because they will be dealing with a totally new asset class.

In a press release published at GlobeNewsWire, Pack explained:

“Throughout our years of investing in crypto at our respective VC firms we realized how difficult it is for incumbent investment firms to participate in this tech trend. The issue is that crypto is not just a new technology but a new tech-driven asset class, something we haven’t witnessed in decades. A new asset class calls for a new breed of asset manager. That’s why we launched a crypto-dedicated fund and why we invest in other cryptofunds.”

In the way that the new VC is set up, Pack’s new way of looking at things will be complemented by the more experienced gaze of his partner, Bo Feng. The latter has 20 years of VC experience under his belt, being the founding partner of Ceyuan Ventures.

With two decades of experience behind him, Feng sees a very big opportunity in the crypto revolution, saying:

“I see a parallel between the Internet boom in the ’90s and the current cryptocurrency market opportunity. The crypto revolution may be even bigger than the Internet and more global. We take an ecosystem approach, investing in fund managers around the world and connecting the top technologists from the West to the largest crypto companies and user bases in Asia.”

Pack revealed to Forbes that the VC fund would operate in a more “unconstrained” manner, probably when compared to older VC companies. By unconstrained, Pack clarified that there would be no restriction as to the types of companies or coins that the fund can invest in. These limits are, of course, present in more established firms.

At the moment, $20 million of its $100 war chest has already been invested in a variety of funds and start-ups. These include the crypto Basis, protocols Spacemesh, and Oasis Labs, and funds such as MetaStable Capital.

Pack also revealed that he is very optimistic about the transformative power of cryptocurrencies. While prices might fluctuate greatly with hype and its aftermath, Park told Forbes that he wants to take a long-term approach:

“We try to take a very long-term perspective. Crypto has the power to transform things at a deeper layer. Not just money—transforming what we think of as property.”

Crypto-Dedicated VC Dragonfly Capital Partners Unveils, Says Older Firms Might Have a Disadvantage was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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