Galaxy Digital, the crypto-focused financial services firm founded by Mike Novogratz, has successfully closed a $175 million venture fund aimed at backing early-stage startups in the blockchain and digital asset space. Surpassing its original $150 million fundraising target, this fund marks a significant milestone—it’s the first time Galaxy is managing outside capital, signaling growing confidence in the firm’s investment strategy.
A Strategic Bet on Stablecoins, Tokenization, and Payments
With the new venture fund, Galaxy Digital is targeting fast-growing sectors like stablecoins, asset tokenization, and crypto-powered payments. The firm has already allocated $50 million from the fund into promising startups, including Monad and Ethena, which are focused on next-generation blockchain infrastructure and financial tools.
Mike Giampapa, General Partner at Galaxy, highlighted the increasing global momentum behind crypto adoption, especially in the financial services sector. He emphasized that innovation is accelerating and investors are looking for scalable, long-term opportunities in the space.
Galaxy Digital Remains Committed Despite Recent Losses
Even after reporting a $295 million loss in the last quarter, Galaxy Digital remains committed to the long-term growth of the crypto ecosystem. The company manages over $7 billion in assets and is publicly listed on the Nasdaq. In addition to venture investing, Galaxy operates across multiple verticals, including crypto mining, trading, and Bitcoin ETFs.
This new venture fund represents a deepening of Galaxy’s role as a key player in shaping the future of decentralized finance, while signaling renewed investor confidence in the broader digital asset market.
