Galaxy Digital, the company led by Mike Novogratz, has announced a $113 million lift in its new risk capital fund focusing on Bitcoin Sector (BTC) and cryptocurrency companies.
The vehicle, called the Galaxy Ventures Fund I LP, is scheduled to continue its collection until next year. With the aim of reaching or exceeding USD 150 million.
The fund is designed to invest in approximately 30 companies operating in the early stages of the ecosystem. Investments are aimed at companies that develop software infrastructure, protocols, and financial applications based on decentralized technologies. approach Prioritize projects that allow for more institutional adoption On-chain solutions.
The Galaxy Ventures Fund I LP is managed by General Partners Will Nuelle and Mike Giampapa. Both lead the team expanding Galaxy’s investment thesis, and are already applied to over 100 companies in the sector. This new stage seeks to climb previous experiences through the appeal of the external capital of institutional investors, family staff and individual assets.
The company has shown that the fund has received significant contributions since the second quarter of this year. According to Chris Ferraro’s president and CIO DE Galaxy, the goal is Expanding investors’ access to cryptocurrency innovation opportunitiescombines the technical experience of equipment with value-added services. Among the first companies funded by the fund are Ecena, m^0, Monad and Ploom.
The fund’s support comes from the set of Galaxy Business Lines, which operates with over 450 employees worldwide. Through this structure, Galaxy Ventures provides direct support to portfolio companies with services such as capital markets, technical feedback, and brand development. Strategy focuses Identify key technologies that will transform traditional financial infrastructure.
Galaxy’s growth is also reflected in behavioral behavior that has risen 80% over the past 12 months, as seen in the TradingView graph below.
Steve Kurz, director of Global Galaxy Asset Management, said the $113 million closure will strengthen our commitment to fostering innovation in the digital assets space. “It can support visionary startups and gain an unprecedented vision of emerging technologies that shape both our company and our fiscal future,” he added.