Draper Dragon

Draper Dragon is a venture capital firm founded in 2006 by Larry Li, Andy Tang, Bobby Chao, and Tim Draper. It operates as a cross-border venture fund, focusing on early-stage companies that have the potential to disrupt and transform industries. The firm connects Silicon Valley with Asia, with offices in several locations including Silicon Valley, Toronto, Shanghai, Hong Kong, Singapore, and Bangalore.

Draper Dragon has invested in over 127 companies, supporting their growth with strategic guidance, international connections, and financial backing. The firm is part of the Draper Venture Network, a global alliance of 24 venture funds, giving Draper Dragon access to substantial resources and expertise.

Draper Dragon primarily invests in the technology and healthcare sectors, supporting companies in various stages of development, from seed to growth. Some of the notable companies in its portfolio include Microport Medical, Ledger, Yeepay, Otter, 1047 Games, and Jing Jin Electric.

As an active member of the Draper Venture Network, Draper Dragon benefits from the substantial resources and experience developed over two decades of venture capital investing. The firm has managed multiple US Dollar funds and one RMB fund, with investments in sectors such as mobile internet, AI, fintech, energy, and hardware.

Draper Dragon has been involved in many high-profile funding rounds, backing companies like CoinDCX, VirgoCX, and MachineFi Lab. The firm also supported the launch of BBOX Exchange, a DeFi platform that brings innovation through Oracle Extractable Value capture.

The firm is registered as an Investment Adviser (RIA) and continues to seek new investment opportunities. Draper Dragon's investment approach focuses on companies with innovative technologies and business models, aiming to create significant value in both Silicon Valley and China. 

The firm has been involved in several high-profile funding rounds, such as the $50M raised by the Philippine crypto exchange PDAX and the $100M raised by 1047 Games. Draper Dragon also participated in Series A rounds for companies like VirgoCX and CyberConnect.

Draper Dragon was founded in 2006 by Larry Li, Andy Tang, Bobby Chao, and Tim Draper as a cross-border venture capital firm aimed at connecting Silicon Valley and Asia. Initially launched as a joint venture between Draper Fisher Jurvetson (DFJ) and DragonVenture, the firm quickly established itself as a key player in venture capital, particularly in sectors like technology and healthcare. Based in San Mateo, California, the firm has expanded to include offices in Toronto, Shanghai, Hong Kong, Singapore, and Bangalore.

In its early years, Draper Dragon launched two US Dollar funds—DFJ DragonFund I and DFJ DragonFund II—and one RMB fund, aiming to invest in early-stage companies across industries like mobile internet, healthcare, fintech, AI, and energy. Notable early investments included companies like Microport Medical and Ledger.

In 2014, the DFJ Global Network rebranded as the Draper Venture Network, with Draper Dragon becoming a core member. This global network enhanced Draper Dragon’s ability to provide resources, mentorship, and market access for its portfolio companies. By 2016, Draper Dragon launched its third US Dollar fund, continuing to focus on disruptive technologies and expanding its portfolio with companies like Yeepay, 1047 Games, and Otter.

More recently, Draper Dragon has been particularly active in the blockchain and cryptocurrency sectors. In 2022, it led funding rounds for notable companies like VirgoCX and CoinDCX. The firm has supported a range of startups, including BBOX Exchange, an innovative decentralised finance (DeFi) platform focused on derivatives trading.

In 2023, the firm invested in MachineFi Lab, which raised $10 million for its efforts in incentivising IoT data collection for Web3. It also participated in the funding of Coinflow Labs and Kelp DAO, both of which raised significant capital for expanding their blockchain-related solutions. 

In early 2024, Draper Dragon led investments in Holonym and Tevaera, further strengthening its presence in digital assets and blockchain gaming.

Today, Draper Dragon remains a significant player in the venture capital industry, with over 127 investments and several successful exits. The firm continues to leverage its cross-border expertise and its connection with the Draper Venture Network to support early-stage companies in Silicon Valley, China, and beyond.

Draper Dragon primarily invests in early-stage companies that have the potential to disrupt their industries and bring about significant change. The firm’s focus is on technology and healthcare sectors, but it also explores opportunities in related fields such as fintech, AI, energy, and mobile internet.

The main criteria Draper Dragon looks for in companies are:

Innovative Technology: Draper Dragon seeks companies that use cutting-edge technology to address market needs. These could be new technologies in healthcare, software, AI, blockchain, or fintech, but innovation must be a key differentiator that can transform the business landscape.

Early-Stage Focus: The firm primarily targets companies in their early stages of development, such as seed or Series A funding rounds. Draper Dragon supports these companies with funding, guidance, and connections to help them grow.

Cross-Border Potential: Given its presence in both Silicon Valley and Asia, Draper Dragon favours businesses that can scale across these markets. The ability to expand internationally, particularly between Western and Asian markets, is highly valued.

Strong Founding Team: Draper Dragon places importance on a founding team’s experience and vision. The firm looks for founders who have strong backgrounds in their industries and a clear understanding of how to drive their business forward.

Growth and Market Potential: The firm evaluates companies based on their potential for market growth. Draper Dragon is particularly interested in industries that show long-term growth, such as digital assets, mobile technology, healthcare innovation, and AI.

Part of the Draper Venture Network: As a member of the Draper Venture Network, Draper Dragon benefits from shared resources, insights, and co-investment opportunities. This allows the firm to provide added value to the companies it invests in, helping them grow beyond just financial investment.

Draper Dragon brings significant value to its portfolio companies through financial investment, mentorship, and strategic guidance. With its strong presence in both Silicon Valley and Asia, Draper Dragon provides companies with access to international markets, helping them scale globally. The firm also leverages its extensive network of industry contacts, including the Draper Venture Network, to offer resources, expertise, and opportunities for collaboration. Draper Dragon’s hands-on approach allows it to assist companies in navigating challenges, refining their business models, and ensuring long-term growth, particularly in sectors such as technology, healthcare, fintech, and AI.

Draper Dragon's mission is to invest in early-stage companies with innovative technologies that can transform industries and drive global change. The firm is committed to supporting entrepreneurs by providing not only financial backing but also strategic guidance and international connections. Draper Dragon aims to bridge the gap between Silicon Valley and Asian markets, helping businesses scale across borders and create lasting impact. Through its role in the Draper Venture Network, Draper Dragon seeks to foster innovation and contribute to the development of high-growth sectors, particularly in technology, healthcare, and financial services.

Draper Dragon’s portfolio reflects its commitment to supporting early-stage companies that drive innovation in technology, healthcare, and financial services. The firm invests in businesses with the potential to transform industries, offering them financial backing, strategic guidance, and access to global markets. Below is a selection of key companies in Draper Dragon’s portfolio:

• 1047 Games – A gaming company known for developing the popular first-person shooter game Splitgate. It focuses on creating engaging multiplayer experiences across various platforms.
• Splashtop – A technology company that provides remote access and support solutions. Their services enable users to access their desktops from any device, ensuring secure and reliable remote work.
• Edda – A financial services platform that helps investment firms manage their portfolios more efficiently. It offers tools for tracking investments, performance, and transactions in real-time.
• Yeepay – A leading payment service provider in China. Yeepay offers online and mobile payment solutions for businesses, helping them process secure and fast transactions.
• Jing Jin Electric (JJE) – Specialises in developing electric drive systems for the automotive industry. The company plays a key role in advancing electric vehicle technology globally.
• Clinchoice – A contract research organisation offering end-to-end clinical trial solutions. It supports pharmaceutical and biotechnology companies in the development of new drugs and medical devices.
• Otter.ai – A company that provides AI-powered transcription services, enabling users to record, transcribe, and organise meetings, interviews, and conversations with ease.
• Donson – A healthcare company focusing on developing innovative pharmaceutical products. Donson’s research and products contribute to improving global healthcare outcomes.
• Altobeam – A semiconductor company that develops wireless communication solutions. Altobeam’s technology is widely used in WiFi and mobile devices to enhance connectivity.
• Kubos – A software company that provides mission control software for satellite operators. Kubos helps manage satellite data and operations through its platform.
• Tradeup – A platform that offers financial services for cross-border trade. Tradeup helps businesses manage transactions and improve efficiency in international trade operations.
• Ten63 Therapeutics – Focused on developing therapies for cancer and infectious diseases. The company uses advanced technology to accelerate the drug discovery process.
• Unest – A fintech company that helps families save for their children’s education. Unest offers simple, tax-advantaged saving plans to support future educational expenses.
• Imprimed – A healthcare company using AI to personalise cancer treatment for animals. Imprimed’s technology helps veterinarians select the most effective treatments for pets.
• OTI – A clean technology company that specialises in energy-efficient lighting solutions. OTI develops smart lighting products for industrial and commercial use.
• Senodia – A sensor technology company that focuses on the development of MEMS gyroscopes and accelerometers. Senodia’s products are used in various electronic devices for motion sensing.
• Atomwise – A biotechnology company that uses AI for drug discovery. Atomwise’s technology accelerates the process of finding new therapies by analysing molecular structures.