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Investment company Dragonfly announced the acquisition of hedge fund MetaStable Capital. This became the reason for rebranding.
Dragonfly Managing Partner Haseeb Qureshi(Haseeb Qureshi), who was previously a general partner at MetaStable, said that the bearish trend in the market has not affected Dragonfly's plans in any way - the company still seeks to expand its influence in the industry.
The amount of the transaction was not disclosed, but Qureshi said that the new acquisition was the reason for the rebranding, in particular, the word “Capital” disappeared from the name under the new logo.
In April, the investment company Dragonfly,cryptocurrency specialist has raised $650 million for its third venture fund aimed at supporting Web3 developers. MetaStable Capital was founded in 2014. As of the end of July, the fund had more than $400 million in assets under management.
Note that now some investmentfirms abandon earlier acquisition efforts. Thus, Galaxy Digital announced the termination of the deal to purchase the BitGo custodial service.
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