They propose to invest in the 30 most promising companies in the cryptocurrency sector.
Galaxy’s expansion is evidenced in their actions, which rose 80% in the last 12 months.
Galaxy Digital, the firm led by Mike Novogratz, announced the lifting of 113 million dollars for its new risk capital fund focused on companies in the Bitcoin sector (BTC) and cryptocurrencies.
The vehicle, called Galaxy Ventures Fund i LP, projects to continue the 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 early stages of the ecosystem. Investments will be aimed at companies that develop software infrastructure, protocols and financial applications based on decentralized technology. The approach Prioritize projects that enable greater institutional adoption of on-chain solutions.
Galaxy Ventures Fund I LP is managed by general partners Will Nuelle and Mike Giampapa. Both lead the team that will expand Galaxy’s investment thesis, already applied to more than 100 companies in the sector, indicated in a release. This new stage seeks to climb the previous experience through the attraction of external capital of institutional investors, family officers and individual assets.
The company indicated that the fund received significant contributions from the second quarter of the year. According to Chris Ferraro, President and Cio de Galaxy, the goal is Expand investors’ access to cryptocurrency innovation opportunitiescombining the technical experience of the equipment with added value services. Among the first companies financed by the Fund is Ethena, M^0, Monad and Plume.
The backing of the fund comes from the set of Galaxy business lines, which operates with more than 450 employees globally. Through this structure, Galaxy Ventures offers direct support to its portfolio companies with services such as Capital Markets, Technical Feedback and Brand Development. The strategy focuses on Identify key technologies that transform traditional financial infrastructure.
Galaxy’s growth is also reflected in the behavior of its actions, which have risen 80% in the last 12 months, as can be seen in the following graph of TrainingView.
Steve Kurz, Global Galaxy asset management director, said that the closure of $ 113 million will strengthen its commitment to promote innovation in the space of digital assets. “What will allow us to support visionary startups and obtain an unprecedented vision of emerging technologies that will shape both our company and the future of finance,” he added.
