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Crypto Venture Firm Dragonfly Acquires Hedge Fund Backed By A16z, Sequoia

Dragonfly buys early Ethereum, Algorand investor

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  • Dragonfly purchases early Ethereum investor in undisclosed deal

  • Dragonfly managing partner Haseeb Qureshi formerly worked as a partner at the hedge fund firm

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Cryptocurrency-focused venture capitalist Dragonfly has purchased its first digital assets hedge fund firm backed by Sequoia and a16z.

The acquisition, MetaStable, founded in 2014, is one of the oldest and highest-performing crypto hedge funds. MetaStable was an early investor in Ethereum, Filecoin and Algorand — at one point raking in a return in excess of 500%.

More recently, the fund has invested in trading platform Floating Point Group and layer-1 protocol Iron Fish.

Dragonfly managing partner Haseeb Qureshi, who formerly worked as a partner at MetaStable, in a blog post Monday said the firm is now “more expansive than it’s ever been.”

The news comes months after Dragonfly, based in San Francisco, CA, closed its third crypto venture fund at an oversubscribed $650 million. Its second fund, closed in 2021, cleared $250 million. The company remains interested in native protocols, Web3 initiatives and tokens that aim to create new digital economies, General Partner Tom Schmidt said in May.

Dragonfly will also soon be the new owner of 10 million LDO tokens — equal to 1% of the total supply — after the Lido DAO approved the sale earlier this month. Lido is a liquidity platform where traders can earn yields on staked assets. LDO token holders came to an agreement after floating different versions of the proposal.

Dragonfly committed to buying the LDO tokens at $1.45 apiece, or at the two-week average price as of the vote plus a 5% premium, whichever is higher. There is a one-year lockup period.

As part of a brand overhaul, also announced Monday, the firm has dropped “Capital” from its name.

The acquisitions and rebranding effort fit into Dragonfly’s broader goal to reintegrate itself as a crypto-native brand. Its new look is affectionately inspired by the “hacker” and “weirdo” culture often displayed throughout the space, according to Qureshi.

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“It’s time for a refresh,” Qureshi said.

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Crypto Venture Firm Dragonfly Acquires Hedge Fund MetaStable

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PGF7T crypto info, Web3, NFTs, Dapps 🔴🔴🔴

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

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We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

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We believe in Web3 and in the strength of communities.

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The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public at https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

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QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

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🔴 It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

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Price:  PGF7T

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Our NFTs

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Enjoy the Journey 🚀

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PGF500 Team

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~~~

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Fundraising in an Economic Downturn. What to Expect and How to Win

Event Information

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​The rules have changed in fundraising. How should you play this new game?

​For 2+ years, everything was up and to the right with endless optimism…

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​Fundraising in that environment was fast and loose. It seemed like everyone was getting term sheets without much stress.

​Then, came Spring 2022 when everything changed. Markets crashed and optimism was replaced with FUD (Fear, Uncertainty, and Doubt).

​Everyone is telling you to wait it out. Hold your breath until the fall and start your fundraise then.

​But why??

​And How??

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​By the end of this workshop, founders will:

​• Get a deep understanding of the changing dynamics of startup capital

​• Know how to avoid the pitfalls of fundraising tactics that don’t work in this new market

​• Develop an approach to effectively fundraise in Q4 and beyond

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Fundraising in an Economic Downturn

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Posted on

PGF7T crypto info, Web3, NFTs, Dapps 💥

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public at https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

🔴 It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey 🚀

.

PGF500 Team

.

~~~

Posted on

💎 PGF7T crypto info, Web3, NFTs, Dapps 🚀

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public at https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

🔴 It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey 🚀

.

PGF500 Team

.

~~~

Posted on

💎 PGF7T crypto info, Web3, NFTs, Dapps 🚀

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public at https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

🔴 It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey 🚀

.

PGF500 Team

.

~~~

Posted on

💎💎💎 PGF7T crypto info, Web3, NFTs, Dapps 🚀

PGF500 has a token on the Ethereum network, called PGF7T, which you can use to pay for subscriptions and services within the PGF500 platform.

You will need to have Metamask to pay with PGF7T token.

.

We have chosen to adopt blockchain technology for the launch of 2 innovative decentralized Dapps.

.

We believe in Web3 and in the strength of communities.

.

.

.

The token is on the Ethereum smart contract 0x9fadea1aff842d407893e21dbd0e2017b4c287b6 ,

and the code is public at https://etherscan.io/address/0x9fadea1aff842d407893e21dbd0e2017b4c287b6#code

.

QuickSwap smart contract:

0xdd0fDc648a9dbC9be5A735FE4561893a13399Da2

.

.

🔴 It is possible to buy and sell PGF7T tokens on Uniswap and QuickSwap Exchanges.

.

Price:  PGF7T

.

.

.

.

Our NFTs

.

Enjoy the Journey 🚀

.

PGF500 Team

.

~~~

Posted on

💥💥💥 The Fundraising Wisdom That Helped Our Founders Raise $18B in Follow-On Capital

Two years, our team at First Round, led by partners Bill Trenchard and Brett Berson, began to quietly build out a program to help our founders navigate the choppy waters of follow-on fundraising.

Long had we observed founders caught off guard by what was needed to raise their Series A after having a relatively easy time at the seed stage (only further exacerbated by an influx of seed funding in the market).

All together, we have immense knowledge in fundraising that we’ve accrued witnessing our companies raise over 1,000 rounds and $18 billion in follow-on funding. It’s possible for startup founders to know more about almost every facet of company-building, but fundraising is one area where we’ll always be able to offer more experience.

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Realizing how well positioned we were to help, we built a program called Pitch Assist — a four to six week bootcamp for our startups that are getting ready to raise follow-on capital. At the end of the program, they emerge with a well-designed deck, a strong narrative, and a clear strategy for how to approach the fundraising process.

Unlike normal fundraising advice, Pitch Assist is an immersive program where we advise, build presentations and rehearse side-by-side with First Round founders. Trenchard, in particular, has experience on both sides of the table, having started and fundraised for 5 companies before joining the firm.

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What follows is an inside look at how we run the Pitch Assist program, and what startups everywhere can apply from what we’ve learned helping create fundraising pitches and processes for over 10 years.

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FIRST, FIX YOUR TIMELINE

Given the cyclical nature of tech and venture, there are distinctly good and bad times to raise capital. “Avoid August, the second half of November and December, when many venture firms slow down.

The year-end holidays and summer dog days are dead zones for fundraising, so why set yourself for an uphill process? July can be slow, too. You can finish your fundraising process in late July — just don’t start it then,” says Trenchard.

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The Fundraising Wisdom That Helped Our Founders Raise $18B in Follow-On Capital

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First Round Review

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