Digital-asset venture capital firm Dragonfly announced the acquisition of MetaStable Capital, one of the oldest crypto investment funds for an undisclosed sum and the completion of a rebranding. This is yet another example of how the digital asset sector and crypto are consolidating.
Naval Ravikant co-founded MetaStable, which was an early investor in Ethereum, blockchain network Cosmos, and blockchain scalability company StarkWare.
The announcement also stated that it intends to change the way Dragonfly looks and feels by removing the “Capital”, and that its aesthetic will be “less Patagonia, more ASCII; less stock photo, more glitch art.”
“An investment approach that doesn’t understand the underlying technology is always going to be shallow. That’s why much of our team is composed of technologists, hackers, and researchers,” Haseeb Qureshi, managing partner at Dragonfly wrote.
A the beginning of this month, the venture capital firm led a $3.5 million seed funding round for the crypto credit protocol Debt DAO.
