Venture capital firm Dragonfly has acquired MetaStable Capital, one of the oldest crypto investment funds, for an undisclosed amount, according to a report from Bloomberg.

MetaStable, which was started in 2014, had over $400 million in assets under management as of July 31, according to Bloomberg.Dragonfly Managing Partner Haseeb Qureshi, who was previously a general partner at MetaStable, told Bloomberg that while the bear market has caused many funds to exit the crypto market, Dragonfly was committed to going even deeper into crypto.Dragonfly has also dropped the “Capital” from its name and has adopted a new logo, according to the report. Founded in 2018, Dragonfly's investment portfolio includes smart contracts platform Avalanche, layer 1 blockchain platform Near Protocol, DAI token creator MakerDAO and zkSync creator Matter Labs, among others.In April, Dragonfly raised $650 million for its third crypto fund.