Galaxy Digital raises $113M for venture fund investing in crypto-focused startups

seekingalpha07-25

Galaxy Asset Management, part of Michael Novogratz's Galaxy Digital Holdings (OTCPK:BRPHF), said Thursday it has raised $113M for a new venture-capital fund investing in early-stage startups across ...

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The fund, called Galaxy Ventures Fund I LP, seeks to build a portfolio of about 30 investments in certain digital-asset firms. Fundraising for the fund started in Q2 2024, and Galaxy  expects to continue fundraising into next year and achieve at least a $150M target. Galaxy  Ventures has already poured money into over 100 portfolio companies to date, including Ethena, M^0, Monad, and Plume, among others. \"This fund will strengthen our commitment to fostering innovation in the digital asset space, enabling us to back visionary startups and gain unparalleled insights into the emerging technologies that will shape both our company and the future of finance,\" said Steve Kurz, global head of Asset Management at Galaxy. The move indi","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4135":"资产管理与托管银行","BRPHF":"Galaxy Digital Holdings Ltd."},"translate_title":"Galaxy Digital筹集1.13亿美元用于投资加密货币初创公司的风险基金","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BRPHF":1},"content_text":"Galaxy Asset Management, part of Michael Novogratz's Galaxy Digital Holdings (OTCPK:BRPHF), said Thursday it has raised $113M for a new venture-capital fund investing in early-stage startups across cryptocurrency protocols, software infrastructure and financial applications. The fund, called Galaxy Ventures Fund I LP, seeks to build a portfolio of about 30 investments in certain digital-asset firms. Fundraising for the fund started in Q2 2024, and Galaxy (OTCPK:BRPHF) expects to continue fundraising into next year and achieve at least a $150M target. Galaxy (OTCPK:BRPHF) Ventures has already poured money into over 100 portfolio companies to date, including Ethena, M^0, Monad, and Plume, among others. \"This fund will strengthen our commitment to fostering innovation in the digital asset space, enabling us to back visionary startups and gain unparalleled insights into the emerging technologies that will shape both our company and the future of finance,\" said Steve Kurz, global head of Asset Management at Galaxy. The move indicates a resurgence in venture-capital investments in the crypto sector. Investor enthusiasm is being driven largely by rising crypto prices, particularly following Bitcoin's (BTC-USD) fresh all-time high logged in March. Additionally, the prospect of increased regulatory clarity in the U.S. is further stimulating growth in the space.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454871688"}