Anurag Arjun

To set the story straight: I agreed to join Dragonfly within a year of it starting, while the first fund was half raised. I had recently left Meta Stable, one of the biggest crypto funds at the time. I was not "hired." I came in as the third Managing Partner, with the understanding that the fund was not yet off the ground and that I was going to have to help raise it. At the time, Dragonfly was a fund-of-funds with no brand in the US. It had never led a single deal. So when Bo and Alex invited me to join, I made clear: the only way I was willing to join was if we pivoted the strategy to pure play VC, doing direct investments, leading deals, and letting me build a technical team. This is totally different from a fund-of-funds strategy. Alex resisted this; he thought fund-of-funds was a good hedge, but Bo and I overrode him. Within less than a year, Alex was out. This was before our first fund was fully deployed. We're now on our fourth fund. I have led the team, raised every single fund since then, for 7+ years. That's why it's infuriating to have Alex crawl out and try to take credit for our success. At the time that I joined, we had ~$55M of AUM. We're now at $4B. So, no. You did not build Dragonfly. Me, Bo, Tom, and Rob did. But I understand Hack VC is trying to raise a new fund. Good luck with that—you might want to check out a blog post I wrote recently. I suspect you'll find it helpful.

Why does using crypto still feel like switching networks instead of using money? Because liquidity is broken up across chains. The real unlock isn’t more chains, it’s making liquidity act like one pool, regardless of where it lives. So web3 can scale beyond its power users.