Galaxy Asset Management has secured $113 million for a new venture fund aimed at early-stage startups in crypto software, infrastructure, and financial apps. Led by General Partners Will Nuelle and Mike Giampapa, the fund was announced on July 25 and targets 30 investments.
This is a significant milestone for Michael Novogratz’s Galaxy Digital, indicating growing institutional interest in digital assets. The fund drew investments from institutional allocators, family offices, and high-net-worth individuals.
A standout feature is the fund’s focus on fostering innovation in the digital asset space, offering unparalleled insights into emerging technologies. The fund aims to reach $150 million by next year.
Galaxy joins other crypto giants like Pantera Capital, which aims to raise over $1 billion, and Paradigm, which secured $850 million, signaling a market recovery. This fund underscores the strategic importance of innovation in shaping the future of finance.
