Business
Galaxy Announces Final Close of Oversubscribed Galaxy Ventures Fund I at Over $175M
Galaxy Ventures raises its inaugural venture fund with the support of a global base of limited partners to back early-stage startups building the onchain
About this update from Galaxy Digital Inc.
[{"type":"text","content":"Galaxy Ventures raises its inaugural venture fund with the support of a global base of limited partners to back early-stage startups building the onchain economy\nNEW YORK, June 26, 2025 /PRNewswire/ - Galaxy Asset Management, an affiliate of Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY) and one of the world's largest digital asset and blockchain investment managers, today announced the final close of its oversubscribed Galaxy Ventures Fund I, LP (\"GVF I\" or \"the Fund\"). Driven by strong investor demand for access to the growing digital asset venture ecosystem, the Fund closed with over $175 million in capital commitments, exceeding its target of $150 million.\n\n \n \n \n \n \n \n\n \nThe Fund is focused on investing in early-stage companies developing critical infrastructure and applications for the onchain economy. Its investment strategy spans the categories of financialized applications, blockchain protocols, and software infrastructure. The Fund specifically has and will continue to target investments in secular growth areas like stablecoins, payments, and tokenization, plus all the supporting infrastructure that makes such technologies viable.\nThis milestone marks a new chapter for Galaxy Ventures, which had previously invested from Galaxy's balance sheet since 2018. Given Galaxy Ventures' strong track record of supporting visionary founders at the earliest stages, GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio already includes some of the most promising startups in the space such as 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others. Including historical balance sheet investments and the current GVF I portfolio, Galaxy Ventures has backed more than 120 companies to date.\n\"Galaxy Ventures closing its first fund above the target at a time when raising crypto venture is historically difficult showcases our team's unique edge in the market,\" said Mike Novogratz, Founder and Chief Executive Officer of Galaxy. \"With deep roots in onchain markets and blockchain infrastructure, we're committed to backing founders and startups building real-world use cases that are shaping the next chapter of crypto adoption.\"\nThe Galaxy Ventures team is headed by Will N...