September 21, 2023

Dragonfly acquires hedge fund MetaStable Capital

Article reading time:
1 min.

Dragonfly acquires hedge fund MetaStable Capital

Investment company Dragonfly announced the acquisition of hedge fund MetaStable Capital. This was the reason for the rebranding.

Dragonfly Managing Partner Hasib Qureshi(Haseb Qureshi), who was previously the general partner of MetaStable, said that the bearish market trend has not affected Dragonfly's plans in any way - the company is still looking to expand its influence in the industry.

The amount of the deal was not disclosed, but Qureshi said that the new acquisition was the reason for the rebranding, in particular, the word "Capital" disappeared in the title under the new logo.

In April, Dragonfly investment company,The crypto-currency firm has raised $650 million for its third venture fund to support Web3 developers. MetaStable Capital was founded in 2014. As of the end of July, the fund managed assets worth more than $400 million.

Note that now some investmentfirms abandon earlier acquisition efforts. Thus, the Galaxy Digital company announced the termination of the transaction for the purchase of the custodial service BitGo.