EddieJayonCrypto
3 Apr 24
Galaxy Digital, a prominent crypto investments giant, is assembling a $100 million fund, named Galaxy Ventures Fund I, LP, to invest in early-stage crypto companies using external investors' capital. The fund is set to support up to 30 startups over the next three years, with a focus on financial ap...
Galaxy Digital, a prominent crypto investments giant, is assembling a $100 million fund, named Galaxy Ventures Fund I, LP, to invest in early-stage crypto companies using external investors' capital. The fund is set to support up to 30 startups over the next three years, with a focus on financial applications, software infrastructure, and crypto protocols. This marks the first time the venture team will utilize outside capital, distinct from the Interactive division which has previously done so. Galaxy Digital has a track record of investing $200 million in over 100 projects during the past six years. Galaxy Digital's venture team has long invested its own money in crypto companies. Now, it's planning to do that with outside investors' capital, too. The crypto investments giant is putting together a $100 million fund that will invest in early-stage crypto companies, according to an investor email shared with CoinDesk. Galaxy moved its venture capital franchise into its asset management business in 2023.
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