Top Silicon Valley and Asian investors have backed a new cryptofund promising to bridge the gap between East and West to the tune of $100 million.

Called Dragonfly Capital Partners, the fund was revealed today. Offering investors a single, diversified access point to cryptoassets, it’s led by Alexander Pack, who previously worked on crypto and fund investing for Bain Capital Ventures, and Bo Feng, a 20-year venture capital veteran and the founding partner of Ceyuan Ventures.

The fund intends to invest in three types of assets: crypto-native funds that are “poised to become the next great asset management dynasties for the cryptoasset class,” protocols and applications, and tech startups that are “building bridges between the decentralized and centralized worlds.”

“Throughout our years of investing in crypto at our respective VC firms we realized how difficult it is for incumbent investment firms to participate in this tech trend,” Pack said in a statement. “The issue is that crypto is not just a new technology but a new tech-driven asset class, something we haven’t witnessed in decades.”

Venture capital funds dedicated to cryptoassets are hardly new, but where Dragonfly Capital Partners stands out is its investor list that includes leading crypto firms and individual investors.

Among those leaders are are cryptocurrency exchange OKEX Malta Ltd. and mining company Bitmain Technologies Ltd., as well as Silicon Valley investors Salil Deshpande of Bain Capital Ventures, Marc Andreessen and Chris Dixon of Andreessen Horowitz, Cyan Banister of Founders Fund and Olaf Carlson-Wee of Polychain Capital.

Asian investors include Neil Shen, head of Sequoia China; Eric Xu, co-founder of Baidu Inc.; Bob Xiaoping Xu, founding partner of Zhenfund; Zhang Tao, chairman and founder of Meituan-Danping; Bao Fan, founder and chief executive of China Renaissance Bank; Cai Wensheng, founder and chairman of Meitu; Justin Tang, founder and CEO of X Financial, eLong; JP Gan, Qiming Venture Partners; and Annie Xu, general manager of Alibaba U.S.

“I see a parallel between the internet boom in the ’90s and the current cryptocurrency market opportunity,” Feng said. “The crypto revolution may be even bigger than the internet and more global. We take an ecosystem approach, investing in fund managers around the world and connecting the top technologists from the West to the largest crypto companies and user bases in Asia.”

Photo: Pixabay