Draper Dragon is an early-stage, cross-border venture capital fund connecting Silicon Valley and Asia, founded in 2006 by Tim Draper, Larry Li, Andy Tang, and Bobby Chao. The firm focuses on Web3, blockchain, and emerging technology investments, and was formerly known as DFJ DragonFund before being renamed in 2016.
30% of their portfolio is in Crypto & Web3. Deal activity decreased year-over-year (1 deal in the last 12 months vs 3 prior). Average disclosed round size is $12.2M (across 42 rounds with reported amounts).
Portfolio
39
Fund Size
$80M
Top Stage
Seed
Last 12 Mo
1
Team
AT
Andy Tang
Founding Partner
LL
Larry Li
Founding Partner
OL
Oliver Li
Partner
SF
S Frank Miaw
Venture Partner
SB
Samiz Bayan
Partner
RT
Ryo T.
Investor
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
47 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Printr | Seed | $2M | May 2026 |
 Helios Finance | Pre-Seed | $1M | Jan 2026 |
| Helios Finance | Bridge | $1M | Jan 2026 |
 Midl | Seed | $2.4M | Jul 2025 |
 Imua | Seed | $5M | Feb 2025 |
 Kernel DAO | Unknown | $10M | Dec 2024 |
 CARV | Series A | $10M | Apr 2024 |
 XION | Series B | $25M | Apr 2024 |
| XION | Series A | $25M | Apr 2024 |
 Karma3 Labs | Seed | $4.5M | Mar 2024 |
| EEther.fi | Series A | $23M | Feb 2024 |
 Cudis | Seed | $5M | Jan 2024 |
 Carv | Series A | $10M | Jan 2024 |
| CCoinflow Labs | Seed | $2.3M | Jan 2024 |
 Fog Works | Seed | — | Jan 2024 |
 Mogul Club | Seed | $3.6M | Nov 2023 |
| TTabi NFT | Unknown | $10M | May 2023 |
 Blockjoy | Seed | $12M | Feb 2023 |
| BBBOX | Pre-Seed | $2.7M | Jan 2023 |
 Ballet | Series A | $13M | Jun 2022 |
 VirgoCX | Series A | $10M | Jun 2022 |
 RockX | Unknown | $6M | Apr 2022 |
| PPhilippine Digital Asset Exchange (PDAX) | Series C | — | Feb 2022 |
| PPhilippine Digital Asset Exchange (PDAX) | Series B | — | Feb 2022 |
 MachineFi Lab | Seed | $10M | Jan 2022 |
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Top Co-Investors
Draper Associates8 shared
Arrington Capital6 shared
Laser Digital6 shared
OKX Ventures5 shared
ConsenSys5 shared
HashKey Capital5 shared
Digital Currency Group4 shared
Fenbushi Capital4 shared
Jump Capital4 shared
Arweave3 shared
IOSG Ventures3 shared
The Spartan Group3 shared
Sfermion3 shared
Animoca Brands3 shared
Selini Capital3 shared
FBG Capital3 shared
Amber Group3 shared
Bankless Ventures3 shared
Kingsway Capital3 shared
Ripple3 shared
Last updated: 19 September 2026