Galaxy Digital Raises $175 Million to Support Crypto Startups
Galaxy Digital raises $175M in first external fund, exceeding expectations. Galaxy Digital has announced a major milestone in its venture capital journey. The new fund targets early-stage crypto startups building next-gen infrastructure. Galaxy Ventures backs 120+ companies, acquiring strong investor confidence.
The business has successfully closed its first externally raised crypto venture fund, securing $175 million, surpassing its initial fundraising target of $150 million. This fund will focus on startups developing infrastructure and on-chain applications for the expanding on-chain economy, including areas like payment, tokenization, stablecoins, and underlying technology. Investments will also be made in software frameworks, blockchain protocols, and financial applications.
Galaxy Ventures Fund I (GVF I) has attracted institutional investors, family offices, and digital asset ventures, showcasing confidence in Galaxy’s vision and strategy. The fund’s portfolio includes promising startups such as 1Money, Rail, Ubyx, Monad, Plume, and Yellow Card.
Galaxy CEO Mike Novogratz emphasizes the company’s extensive blockchain experience as a competitive advantage, highlighting the importance of investing in projects with real use cases to drive crypto adoption.
The Galaxy Ventures team, led by Will Nuelle and Mike Giampapa, supports portfolio companies by providing funding and access to the Galaxy network, including blockchain infrastructure, trading, and lending services.
In a rapidly evolving crypto landscape, Galaxy Ventures aims to pioneer digital finance development and support early-stage startups in the industry.
The $175 million fund signals a bright future for Galaxy Ventures and the growth potential of startups in the digital finance space.
