In a major update, Crypto venture capital firm Dragonfly has promoted Rob Hadick and Tom Schmidt to managing partners, expanding its leadership team to four now.
Haseeb Qureshi, managing partner at Dragonfly, announced the promotions in a post on X on October 28. Hadick and Schmidt will lead the firm alongside Qureshi and co-founder Bo Feng.
“Both Tom and Rob have been central to building the firm into what it is today, from the deals we’ve led, our leadership in industry, to the founders we’ve stood behind through every cycle,” Qureshi wrote.
He added that the firm’s mission remains unchanged: “backing the founders building the future of money and markets.”
The leadership change becomes more important as Dragonfly has established itself as a prominent investor among the top cypto VC firms, backing companies like Polymarket, Ethena, Agora, Rain, Monad, among others.
News from the Dragonfly team: @HadickM and @tomhschmidt have been promoted to Managing Partners, leading @dragonfly alongside myself and Bo.
Both Tom and Rob have been central to building the firm into what it is today, from the deals we've led, our leadership in industry, to… https://t.co/gBYNlmmJtp
— Haseeb Qureshi ＞|＜ (@hosseeb) October 27, 2026
Who are Dragonfly’s new managing partners?
Dragonfly’s new managing partner Rob Hadick brings experience in traditional finance, private investments and digital assets to his new role.
Before joining Dragonfly as Managing Partner, he was serving Dragonfly in General Partner role for the past 4 years. He has helped lead crypto investments at GoldenTree Asset Management, a multi-strategy investment firm, where he worked on investments in public and private crypto companies.
Earlier in his career, Hadick held roles spanning technology, fintech and investment advisory at Heritage Partners, Goldman Sachs and PJT Partners. His background combines traditional financial markets with experience evaluating businesses across the digital asset ecosystem.
His linkedin describes him as an investor in companies like Polymarket, Rain and he also sits as a board member on startups like Velocity, Agora, Mesh.
Tom Schmidt, meanwhile, brings a product and engineering background alongside his experience in crypto investing. Before joining Dragonfly, Schmidt led product at 0x, an Ethereum-based decentralised exchange protocol, and worked as a product manager at Facebook and Instagram.
He also held engineering roles at Apple and Microsoft. His experience building technology products and working with blockchain infrastructure gives him a different perspective on the companies Dragonfly backs.
Their promotions recognise their contributions to building Dragonfly and now establish a four-person management structure for the firm. Qureshi said the two would help carry forward the firm’s existing work backing founders across money and markets.
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Crypto Funding Down 40.4% In Q3 2026
Dragonfly’s leadership announcement comes as the current crypto VC landscape isn’t running bullish.
Crypto venture funding slowed in the third quarter of 2026. In total, companies have completed 127 venture rounds worth a disclosed $2.62 billion, according to CryptoRank.
The amount was down 40.4% from the same period last year, while the number of rounds fell 59.6%. Payments, exchanges and brokerage businesses accounted for 71.6% of disclosed venture capital. That shows investors’ focus on financial infrastructure as early-stage deal activity weakened.
Dragonfly’s leadership announcement also comes amid a broader shift among venture capital firms traditionally associated with crypto.
For instance, on October 22, Andreessen Horowitz announced that it was renaming its crypto investment arm, a16z Crypto, to a16z Frontier. The firm said it was expanding its focus beyond crypto startups to a broader category of frontier technology companies while continuing to invest in crypto and related ventures.
Dragonfly has also invested beyond conventional crypto infrastructure. Its recent investments span both crypto and AI. The firm led Sapiom’s $35 million Series A in August, following its co-led $34 million–$38 million Series A for stablecoin infrastructure company Velocity in July and its $65 million Series A for AI company Venice AI earlier that month.
Sneha Agrawal 
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