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The Venture Codex

Draper Dragon

55 East 3rd Avenue, San Mateo, CA, 94401, United States

Overview

DFJ DragonFund was the joint venture between the internationally recognized venture capital firm Draper Fisher Jurvetson (DFJ) and DragonVenture,Since its inception, DFJ DragonFund managed two US Dollar funds “DFJ DragonFund I & DFJ DragonFund II”the DFJ Global Network rebranded as the Draper Venture Network. With the launch of their 3rd US Dollar fund in 2016, DFJ DragonFund henceforward became known as DraperDragon. They are a sector agnostic early stage fund. They look for companies with innovative technologies and business models with market appeal in Silicon Valley and in China. With their unique depth of experience and knowledge, their team can add value and resources in a broad manner.

Total investments
45
Lead investments
7
Investments · 12mo
3
Active investors
3

Sector focus

  • Financial Services
  • Venture Capital
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Investment portfolio

  • UpRock

    Participated · Seed · Jul 2026

    Founded in 2022 and based in Bucharest, UpRock runs apps (desktop and mobile) that collect anonymized device and web-performance data and sells aggregated datasets and testing services to business customers. The project publicly states apps are cryptographically signed and mobile clients are distributed only via official app stores; the desktop app presents internally as "UpRock Mining." Users earn in the project's token, UPT, which trades at about $0.004 with a market capitalization of a little over $1 million and is listed on exchanges including MEXC, BitMart, Meteora and Orca. The company presents a B2B revenue model (clients buying performance tests and aggregated data) while disbursing rewards to users in token form. Reported withdrawal policies from June 2024 set a 250 UPT minimum and a dynamic fee linked to SOL, but some June 2026 user reports cite a 255 UPT threshold plus a 55 UPT fixed fee; coverage recommends verifying withdrawal terms in the app. Public reputation is mixed, with Trustpilot averaging about 2.4/5 and automated site-rating services like Scam Detector assigning higher trust scores (~80/100).

  • AEON

    Participated · Seed · May 2026

    AEON is developing a settlement layer intended to serve as the financial backbone for an agentic economy where autonomous AI agents exchange value. The company launched its first AI payment product in May, which it says connects AI agents to more than 50 million real-world merchants. AEON has partnered with BNB Chain to release the x402 Facilitator, a native product enabling verifiable transactions, onchain settlement, and immutable receipts for service providers in the BNB ecosystem. The firm cites collaboration with partners such as Coinbase and BNB Chain as part of its go-to-market and integration strategy. AEON raised $8 million in a pre-seed round led by YZi Labs to accelerate development of its settlement layer; the round’s structure and valuation were not disclosed. CEO and co-founder Eddie Li framed the company’s mission as building the financial foundation for an economy powered by autonomous agents.

  • Helios Finance

    Participated · Equity · Mar 2026

    Helios Finance is building a fully on-chain Bitcoin-backed lending platform combined with a credit card, enabling long-term BTC holders to access real-world purchasing power without triggering taxable events or selling their coins. Instead of wrapping Bitcoin onto other chains, the company keeps a strict “Bitcoin-first” approach, leveraging the MIDL execution layer to provide instant loans collateralized by users’ BTC. Its flagship product, the Helios Reserve credit card, converts dormant Bitcoin into a productive financial instrument, effectively positioning the service as a bank-on-chain. Transparency is maintained through on-chain collateralization, aiming to avoid the rehypothecation issues that plagued earlier crypto lenders. Fresh capital will be directed toward scaling core infrastructure, expanding the engineering team, and accelerating the global rollout of the credit card, for which a waitlist is already open. While no revenue or user metrics were disclosed, the company sees rising institutional interest in “BitcoinFi” as a strong tailwind for product adoption.

  • Midl

    Led · Seed · Aug 2025

    Midl is developing infrastructure that integrates smart contract functionality into the core Bitcoin blockchain, enabling developers to build and deploy native dApps and token standards on Bitcoin rather than on sidechains or Layer 2s. The platform supports multiple smart contract interactions within a single Bitcoin transaction to enhance scalability and throughput while preserving Bitcoin’s security. Midl aims to make Bitcoin programmable across sectors including government, video games, and financial markets. The company reports more than 20 projects currently deployed on its testnet and is preparing to transition to mainnet. Founder Iva Wisher positions the technology as a first-in-industry approach to native Bitcoin programmability, and the company is pursuing early-adoption initiatives to increase Bitcoin liquidity and retail adoption.

  • Veda

    Participated · Equity · Jun 2025

    Veda operates a universal, modular, composable cross-chain vault infrastructure (the BoringVault framework) that enables developers and institutions to create vaults for use cases including liquid restaking tokens, yield-based stablecoins, savings accounts, and native chain yield. Since the BoringVault launch in March 2024 the standard has amassed over 100,000 users and powers yield strategies across wallets, chains, and protocols. The platform reports over $3.7 billion in total value locked (TVL) and more than 100,000 depositors. Veda emphasizes preserving self-custody, transparency, and security, and the company says its vault framework has a flawless security record. Founded in early 2024 by Sun Raghupathi (CEO), Joe Terrigno (CTO), and Stephanie Vaughan (COO), the team intends to deepen partnerships with institutions and fintechs. Veda plans to partner with a top-five global centralized exchange in the next month and will use the raise to accelerate DeFi adoption across established financial platforms.

Team

  • Andrew Tang

    Managing Director

    LinkedIn
  • Bobby Chao

    Co-Founder & Managing Director

    LinkedIn
  • Larry Li

    Managing Director