First Mover Americas: Galaxy Digital to Raise $100M for New Fund

Galaxy Digital’s plunge team has long invested its own money in crypto companies. Now, it’s planning to do that with outside investors’ capital, too. The investments colossus is putting together a $100 million fund that will invest in early-stage crypto companies, according to an investor email shared with CoinDesk. Galaxy tricked its venture capital franchise into its asset management business in 2023. The Galaxy Ventures Fund I fund focuses to invest in as many as 30 startups over the next three years, with checks starting at $1 million. It want target financial applications, software infrastructure and protocols built on crypto, the email said. The new fund “will be prolonged the success of our proprietary balance sheet investing but through a direct, institutional-grade fund,” the email said.