Why Dragon?

Our Mission

To accelerate the AI revolution by investing in and empowering Superhuman Founders and Teams to build market leading, enduring technology companies.

Who We Are

AI-powered, private investment firm that leverages artificial intelligence (AI) and the Dragon Community to create a sustainable, evolved future for humanity and our planet.

Once in a Lifetime Opportunity

We strongly believe that the next 5-10 years will see the transition to a world powered by Superintelligence where Artificial General Intelligence (“AGI”) and Robotics will bring once in a lifetime, historic, transformative economic and social benefits for humanity and the world. We believe this buildout will require a major overhaul of our energy infrastructure and climate technologies with trillions of dollars of annual investment in Sustainability. We are totally focused on capitalizing on these opportunities with a mission to provide our Limited Partners with superior returns by investing in enduring enterprises that evolve humanity and the world while sharing in their explosive growth and profitability.

“The next wave of AI is physical. AI that understands the laws of physics. AI that can work among us. And so they have to understand the world model, so that they understand how to interpret the world, how to perceive the world. They have to, of course, have excellent cognitive capabilities so they can understand us, understand what we asked, and perform the tasks in the future. Robotics is a much more pervasive idea. Of course, when I say robotics, there’s a humanoid robotics that’s usually the representation of that, but that’s not at all true. Everything is going to be robotic. All of the factories will be robotic. The factories will orchestrate robots, and those robots will be building products that are robotic. Robots interacting with robots building products that are robotic.” – Jensen Huang

 

“What all the AI companies are aiming to build is digital, digital super intelligence, so an intelligence thus far smarter than any human and ultimately an intelligence that is far smarter than all humans combined.” – Elon Musk

 

“The big opportunity with AI is that it enables us to understand and anticipate the needs of billions of people, helping us build better experiences, keep people safe, and unlock new forms of creativity and productivity.” – Mark Zuckerberg

 

“Climate impact is estimated to cost between five and ten trillion a year one way or another. No matter, if you neglect it, you’ll pay the price. If you don’t neglect it, you’ll have the cost. Either way, it’s going to be five to ten trillion a year.”– Ray Dalio

Dragon Global is focused on identifying, investing in, and strategically partnering with the next wave of market-leading, enduring companies poised to transform industries and deliver monumental value. We believe that these companies must operate in sectors that will become large Total Addressable Markets (TAMs), poised to reach a Winner-Take-All or Winner-Take-Most market dynamic over the next 5-10 years. Our focus lies on Artificial Intelligence, Robotics, and Sustainability, where we seek to achieve exceptional investment returns, and our portfolio companies can reach exponential advancements that meet society’s most pressing needs.

Our investment strategy revolves around investing in, and collaborating with, our portfolio companies to accelerate their growth, Flywheels, and help build their sustainable Moats around their enterprises. This means going beyond capital to provide a strategic framework that leverages Dragon.ai, our Dragon Community, and Dragon Global Strategic Partners to empower our portfolio companies to foster long-term defensibility, compounded growth, and market leadership.

In shaping our investment approach, we draw inspiration from leaders like Jensen Huang, Mark Zuckerberg, and Jeff Bezos, who have transformed industries by establishing powerful visions, generating self-sustaining momentum, and creating deep competitive Moats around their respective businesses.

Vision: Great companies are built by founders with visionary purpose and a profound understanding of the future they wish to create. We seek to invest in Superhuman Founders whose ambitions are not just market-driven but are fundamentally transformative. Like Huang’s foresight in AI, Zuckerberg’s focus on social connectivity, and Bezos’s obsession with customer satisfaction, we prioritize leaders whose clarity of purpose inspires teams, attracts talent, and enables breakthrough innovation.

Flywheel: A hallmark of enduring businesses is the presence of a self-reinforcing Flywheel, a core strategy that drives scalable and compounding value in the largest, iconic companies. The companies we invest in must exhibit or have the potential to establish these reinforcing loops of growth. By accelerating their Flywheels, we help portfolio companies build unstoppable momentum, allowing them to move from disruptors to leaders.

Moats: Enduring success is built on sustainable competitive advantages—Moats that protect against competition and allow businesses to flourish long-term. Whether through technology, brand strength, operational efficiency, or data monopolies, our focus is on fortifying our partners’ Moats to withstand the pressures of market maturity and new entrants. Examples of Dragon previous portfolio investments with enduring, market leading Moats, include Meta (Facebook), Uber, Zynga, Ulta Beauty, Dick’s Sport Goods, and others.

At Dragon Global, we back “Superhuman Founders”— leaders with the skill, dedication, and resilience to turn vision into reality — supported by “Superhuman Teams”. These founders embody an extraordinary drive, uniting both personal ambition and societal purpose to tackle problems that matter. We back these visionaries not just to achieve financial returns, but to fuel innovations that have the potential to reshape the world.

By identifying and partnering with these future-defining teams, we are not only building a portfolio of companies but creating a legacy that will transform industries, redefine standards, and bring Dragon Global’s vision to life.

Our thesis is rooted in the belief that superior returns and liquidity are derived from a concentrated portfolio of select, high-impact investments in market leading, enduring companies led by Superhuman Founder(s). We embrace the Dragon Global Strategy that focuses on 5-10 core growth stage investments, complemented by strategic allocations in select early-stage investments sourced through our Dragon Global Community and Dragon Global Strategic Partners’ global network of strategic customers and partners. This approach enables us to catalyze transformative innovation while mitigating risks and maximizing our value to founders and their teams.

At the heart of our investment philosophy lies a relentless pursuit of what we call Superhuman Founders – visionary leaders who possess technical prowess, an engineering focus, unwavering determination, execution, and cultural alignment to drive disruptive change. We are building Dragon.ai to be the leading AI-Powered private investment platform for tracking what we refer to Superhuman Teams that are pursuing $100+ billion Total Addressable Markets (“TAMs”) in what we believe are Winner-Take-All or Winner-Take-Most markets. Our Dragon Community leverages over 30 years of close personal and professional relationships, investments, and partnerships to maintain undeniable access to the top Superhuman Founders and Teams with shared visions, proven track records of accomplishments, and speed – where we continue to invest, support, and foster the next generation of innovation.

The Dragon Global Team leverages our Dragon.ai platform, Dragon Community, and Dragon Global Strategic Partners network to invest in and partner with companies led by Superhuman Founders and Teams.

We focus on investing in Total Addressable Markets (“TAMs”) across Consumer Tech, Deep Tech, Enterprise, and Sustainability sectors that will support $100+ billion opportunities in Winner-Take-All or Winner-Take markets. Examples of these markets span Artificial Intelligence, Edge Computing, Robotics, Energy, Carbon Removal and Storage, and other market defining consumer innovations.

We look to Partner with Superhuman Founders and Teams that have demonstrated historic track record of these qualities or who have surrounded themselves with and built a Culture required to build enduring enterprises.

• Superhuman Founder(s) examples include Bill Gates, Steve Jobs, Jeff Bezos, Larry Page and Sergey Brin, Mark Zuckerberg, Jensen Huang, and Elon Musk

• Superhuman Builder(s) examples include Eric Schmidt, Peter Thiel, Bill Campbell, Trae Stephens

• Superhuman Team(s) examples include Paypal, Facebook, Amazon Web Services, Apple, Tesla, and Palantir

In an environment marked by limited liquidity in the private sector and significant risk of funds being unable to return capital, Dragon Global stands uniquely positioned to leverage Secondary Markets. With a strong history of delivering returns to our LPs, we have proven expertise in providing liquidity solutions through employee tender programs, early investors, and venture capital firms. By providing early liquidity solutions stakeholders may be able to realize gains and secure additional LP commitments, supporting the growth of their future funds.

Dragon Global was the early pioneer of secondary market transactions dating back to 2008, when we acquired a large position in Facebook at initial valuations between $2-4 billion valuation for our initial transactions in 2008 timeframe.

We believe the Power Law is not just a theoretical concept; it is the bedrock of venture capital returns. Both investment size and the power law dynamic are instrumental in shaping the investment landscape. Whether you are an investor, founder, or an LP, navigating these waters requires a strong grasp of the power law dynamics and their impact on micro and larger funds.

In an era defined by unprecedented technological disruption and global challenges, venture capital has emerged as a powerful catalyst for innovation, driving progress and shaping the future. However, the current venture model is fraught with critical limitations including trapped capital, severe overvaluations, extended holding periods, too many funded companies, and a lack of liquidity.

Whether you are an investor, founder, or an LP, navigating these waters requires a strong grasp of recognizing timing, opportunity, and discipline, around selecting breakout winners at the earliest stage, and supporting them throughout their lifecycle to exit and beyond.

To unlock the true potential of entrepreneurship and foster meaningful change, Dragon Global prioritizes backing Superhuman Founders with concentrated capital deployment, then doubling and tripling down into leaders with investment and resources.

Selective Partnerships with Leading Venture Firms in Our Target Markets

Over the last 3 decades, Dragon Global has led or been a co-investor alongside the top 5-10% of venture capital firms, strategic technology companies venture funds, and sovereign wealth funds. We pride ourselves on the deep personal and professional relationships we have built with the partners at each of these firms. We believe these firms provide tremendous value to Founders and their teams and are an instrumental part of the venture capital industry. Conversely, we believe that outside of these exceptional firms, more than 70 percent of the venture capital industry actually provide negative value and often distract teams, versus empower them. We do believe that the Top 10% of Venture Capital Firms Drive most of the Value in the Venture Industry.

At Armada, we’re on a mission to redefine the boundaries of edge computing. With a team of the brightest minds in technology and an unwavering passion for innovation, we are pioneering edge computing and AI solutions that stand to change industries across the globe. We believe in the transformative power of edge computing and its potential to create a seamlessly connected future. Our commitment is to lead this change, and to embark on a journey to deliver unparalleled solutions for industries worldwide.

Unlock the power to compute in real-time where it matters most – anywhere on Earth.

The most representative case study on Dragon Global would be our recent investments in Armada. Based on a long-standing relationship with 137 Ventures, we learned about Armada and followed the company post their seed investment from top venture investors, Founders Fund, Valor, Lux, 8VC, amongst others. As we do not typically invest in seed, we followed the company extremely closely monitoring their accomplishments and milestones. In late 2023, we co-invested alongside Founders Fund, Lux Capital, Shield Capital, and 8090 Industries to more closely monitor and build a relationship with the company. In the summer of 2024, our confidence in the team at Armada grew tremendously and we stepped in to lead the extension of the Series A. Shortly after our lead investment, Microsoft’s Venture Fund M12, and a large strategic sovereign wealth fund joined the round providing more than just capital as all three of us both invested and developed a more strategic partnership with the company to help accelerate their Flywheel and build out their Moat. This is a great example of our conviction and the role we play to complement our other leading venture capital co-investors.

“Dragon Global has been a critical partner to Armada throughout our growth journey, leveraging their unique platform and extensive global network of large industrial enterprises and strategic partners to accelerate our growth flywheel and the development of sustainable Moats around our business. We highly recommend them to founders and teams focused on building market-leading companies that will stand the test of time.” — Dan Wright, Founder & CEO of Armada

Our goal is to continue to collaborate with the top 1% of venture capital firms—those consistently delivering exceptional returns through strong operational expertise and strategic foresight. Rather than expanding fund size and diluting returns through broad capital distribution, we take a focused approach—prioritizing investments in only the most promising companies across our target industries to amplify value.

By intentionally limiting our fund size and focusing on 5-10 core platform investments, we can deliver world-class resources to our portfolio companies and support them through multiple funding rounds. This concentrated approach increases the likelihood of achieving outlier, power-law outcomes. Our goal is to avoid overpaying in later stage financings where the risk adjusted returns are inferior to public technology company investments.

We recognize that the traditional venture capital model often involves long-term, illiquid investments with high failure rates and limited exit opportunities, relying heavily on a small percentage of top-performing companies to drive returns. In recent years, driven by Zero Interest Rate Policy (ZIRP) and the influx of sovereign wealth into America’s niche financial sector, about 90% of the venture industry has faced increased competition.

This has led many firms to invest in a large number of subpar companies, resulting in portfolios burdened with trapped capital, high failure rates, limited exit opportunities, long exit timelines, and overpayment for well-known brands at inflated valuations. These issues often make such investments less attractive compared to investing in public technology companies.

Our investment approach goes beyond capital. By working closely with our portfolio companies, our goal is to help them accelerate their growth Flywheel, establish enduring, competitive Moats and scale operations. This strategy strengthens their positioning within Winner-Take-All or Winner-Take-Most markets, ensuring that our partners achieve lasting success and providing Dragon Global with superior returns.

As Founders, Operators, and Investors, we strive to be the best partners for entrepreneurs and venture capital firms building market-transforming consumer and enterprise companies leveraging Dragon.ai, our Dragon Community, and Dragon Global Strategic Partners. Most of our partners at Dragon Global are former operators, and a few of us continue to run operating companies as our day job.

Partnering with Dragon Global means joining a powerful ecosystem that accelerates the growth of our portfolio companies led by Superhuman Founders and Teams, redefining industries and amplifying human potential. Our partnerships with co-investors, strategic technology partners, and large enterprises provide our LPs superior returns and unparalleled access to our portfolio companies and their groundbreaking innovations. These investments drive not only market leadership but contribute to global technological progress and societal evolution. Together, we champion innovation that fuels economic success and fulfills humanity’s highest aspirations for sustainable, equitable, and impactful advancements.