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Galaxy Digital announced a successful close of its $175 million venture fund dedicated to investing in promising early stage crypto startups. The new fund exceeded its $150 million target and signals a big shift as Galaxy accepts outside capital for the first time.
Galaxy Digital is now looking to support high growth sectors like stablecoins tokenization and payments. The firm already deployed $50 million into companies including Monad and Ethena. General partner Mike Giampapa said adoption is speeding up globally across financial services.
Founded by Mike Novogratz Galaxy Digital has become a crypto powerhouse with $7 billion under management. The Nasdaq listed company also runs mining and Bitcoin ETFs. Even after reporting a $295 million loss last quarter Galaxy Digital is doubling down on its commitment to innovation and long term crypto growth.
