Galaxy Asset Management Raises $175M for Crypto Fund
Galaxy Asset Management, associated with Galaxy Digital Holdings, has secured $175 million for Galaxy Ventures Fund I LP, focusing on early-stage blockchain, software infrastructure, and financial applications. The fund plans to invest in 30 promising digital asset companies, including stablecoins and tokenization. Despite a challenging venture capital environment, Galaxy exceeded its fundraising target, with institutional and high-net-worth investors showing interest. The fund began in 2024 and reached an initial close of $113 million, later surpassing the $150 million goal. Galaxy, having backed over 120 firms, aims to leverage external capital for further growth in digital asset innovation.
FAQ
❓ What is the focus of Galaxy Ventures Fund I LP?
The fund focuses on investing in early-stage blockchain technologies, infrastructure, and financial applications.
❓ How much did Galaxy Asset Management raise for its first venture fund?
Galaxy Asset Management raised $175 million for its inaugural venture fund.
❓ Why is the fund significant for Galaxy?
The fund allows Galaxy to extend its expertise and proven track record to institutional investors, attracting significant interest in blockchain and digital asset innovations.