Dragonfly Capital is a leading crypto-native venture firm focused exclusively on blockchain infrastructure, protocols, and decentralized finance ecosystems. Dragonfly invests across early and growth stages but only in core Web3 technologies, not Web2 companies with superficial crypto integrations. The firm is highly relevant for founders building protocol-level or infrastructure-layer products, and completely irrelevant for non-crypto SaaS, consumer apps, or traditional fintech.