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LAYERED FINANCIAL, LLC
Alexander Pack runs Layered Financial as a single-family office deploying personal capital into early-stage crypto protocols and liquid tokens.
LAYERED FINANCIAL, LLC
Layered Financial, LLC was established in 2022 by Alexander Pack, formerly a managing partner at Dragonfly Capital and an early-stage investor at Bain Capital Ventures. The firm operates as a single-family office managing Pack's personal capital, derived from his career as a crypto-native venture investor. The founding followed his departure from Dragonfly, the crypto fund he co-managed, and reflects a shift toward a more concentrated, personally directed investment vehicle. The firm deploys capital primarily across digital assets and early-stage blockchain infrastructure, maintaining exposure to both liquid tokens and private venture rounds. Its strategy spans pre-seed through growth-stage equity in protocols and platforms building decentralized finance, layer-1 and layer-2 networks, and developer tooling. Confirmed portfolio holdings include positions in Aptos Labs and Monad Labs (per The Block, 2023). Deals are typically structured as direct equity or token warrants rather than through fund commitments, giving the office operational control over custody and timing. Layered Financial operates as a lean entity with Pack as the primary investment decision-maker. The firm's professional footprint and total deployment remain undisclosed. A significant operational event occurred in February 2024 when Pack was sued by Dragonfly Capital over alleged misappropriation of proprietary deal flow and fund documents during his departure (per Bloomberg, February 2024). The litigation underscores the firm's genesis as a departure from the venture-fund model and its ongoing posture as a direct competitor to former partners. Structurally, Layered Financial exemplifies the increasing number of crypto-native GPs who convert personal balance sheets into family offices during volatile markets. Without a diversified pool of limited partners, Pack retains unilateral authority over portfolio construction and downside risk — an architecture that trades institutional continuity for speed and conviction. The firm's future trajectory depends heavily on the resolution of ongoing litigation and its ability to source proprietary allocations independently of Dragonfly's origination pipeline.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
—
Corporate office
—
Principals
Alexander Pack
Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Layered Financial?
Alexander Pack serves as managing partner and controls all investment decisions. Pack previously co-managed Dragonfly Capital and was an investor at Bain Capital Ventures, bringing a crypto-native venture background to the family office. The firm operates with a lean structure where Pack unilaterally evaluates and executes portfolio allocations.
How does Layered Financial source proprietary deal flow?
Pack sources opportunities through his network developed during tenures at Dragonfly Capital and Bain Capital Ventures. The firm's pipeline remains closely tied to founders and protocols Pack accessed during his fund-management career. Ongoing litigation with Dragonfly Capital, filed in February 2024, concerns allegations that Pack misappropriated proprietary deal information during his departure, which could reshape his sourcing channels.
Does Layered Financial participate in fund commitments or only direct deals?
Layered Financial targets direct equity and token-warrant investments rather than allocating to external venture funds. The firm's structure as a single-family office enables direct custody of portfolio assets and control over liquidation timing in liquid token markets.
What investment stages does Layered Financial typically target?
The firm writes checks from pre-seed to growth-stage equity, with an emphasis on early-stage blockchain infrastructure and developer-tooling protocols. Confirmed portfolio holdings include positions in Aptos Labs and Monad Labs, both of which represent infrastructure bets on next-generation layer-1 and layer-2 blockchain architectures.
What is the known posture on co-investments alongside external GPs?
Layered Financial has not publicly disclosed a formal co-investment program. Given Pack's departure from Dragonfly Capital and subsequent litigation, the firm's ability to co-invest alongside its former fund may be constrained. When participating in rounds, Layered typically appears as a direct investor rather than through syndicated vehicles.
Where does the underlying wealth come from?
The family office manages wealth generated by Alexander Pack through his career as a crypto investment professional. Pack's earnings stem from carried interest and partnership distributions at Dragonfly Capital and earlier roles at Bain Capital Ventures. The exact size of his personal balance sheet is not publicly disclosed.
How is Layered Financial affected by the Dragonfly Capital litigation?
In February 2024, Dragonfly Capital filed suit against Pack, alleging he improperly retained and used proprietary investment materials post-departure. The outcome could affect Layered Financial's access to certain deal flow and may impose restrictions on competitive activity. As of mid-2025, the case remains unresolved, and no public settlement or judgment has been entered.
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