Alexander Pack, managing associate of Dragonfly Capital Companions, has stepped down from the crypto funding agency, in response to a letter obtain
Alexander Pack, managing associate of Dragonfly Capital Companions, has stepped down from the crypto funding agency, in response to a letter obtained by CoinDesk. The transfer was confirmed by Dragonfly Managing Companion Haseeb Qureshi.
The unsigned letter to the fund’s restricted companions, dated April 27, says that the choice is “on account of a distinction in imaginative and prescient on the path of the agency.” Pack will proceed to serve in a part-time capability as a enterprise associate, stewarding one of many firm’s first funds.
“The cut up couldn’t be extra amicable,” Qureshi advised CoinDesk through e-mail. “Alex is a good investor and thinker in crypto, and he’ll proceed supporting our ecosystem of portfolio corporations as a Enterprise Companion. We stay on nice phrases with him and we hope to proceed to work collectively down the street.”
Dragonfly has been a big however quiet agency within the area, asserting itself in October 2018 with $100 million below administration. The agency’s goal has at all times been to bridge investments between the U.S. and Asia. It invests in cryptocurrencies, new protocols and startups, together with Compound, Coda, dYdX and Celo, in response to the corporate’s web site. It took a big stake in MKR tokens late final yr.
Pack was an alumnus of Bain Capital Ventures. The opposite managing companions embrace Bo Feng, beforehand a founding associate of Ceyuan Ventures, and Haseeb Qureshi, beforehand a normal associate at MetaStable Capital.
“We stay on nice phrases with Alexander and look ahead to collaborating with him in his future endeavors for a few years to return,” the letter states.
Pack didn’t reply to a request for remark as of press time.
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