A “Liquid VC” Fund delivering venture-stage upside with public-market liquidity, focused on one of the most powerful technologies of our time. At Dragonfly, we don’t bet on a single protocol. We invest across the entire liquid Crypto landscape, building diversified exposure to the infrastructure layer of a transformation we believe will rival the commercialisation of the internet. Because the sector is early, breadth matters. Because it moves fast, liquidity matters more. We invest exclusively in liquid tokens, giving us the freedom to reallocate swiftly toward new emerging leaders or opportunities we have not yet imagined. Within our broader portfolio, decentralised AI is our highest-conviction theme. We see it as one of the most asymmetric investment opportunities in technology today. As long-term investors, the fact that this is not yet consensus does not concern us, it reassures us. The crowd spots the mega-trend but often misses the structural shifts. We intend to be ahead of it.