Dragonfly Capital led a $19m funding round in Monad Labs.

Dragonfly Capital, a venture capital and private equity firm, led a $19m funding round in Monad Labs, a tech company using low-latency programming, compiler optimization, and multithreaded computing, with participation from Placeholder Capital, Lemniscap, Shima Capital, Finality Capital and Naval Ravikant. “Ultimately the problem of limited throughput and high fees are acute challenges in the Ethereum ecosystem. We found a number of leaders in the space who want to tackle the problem head-on with fundamental improvements to the overall system in order to build the most optimized system possible,” Keone Hon, Monad Labs Co-Founder and CEO.