Galaxy Digital Raises $113M For Crypto Fund, Bets On 'Two-Decade' Blockchain Transition
Portfolio Pulse from Murtuza Merchant
Galaxy Digital has raised $113 million for its Galaxy Ventures Fund I LP, focusing on early-stage crypto startups. This marks a strategic shift for the company, which traditionally invested its own capital. The fund aims to build a diverse portfolio and has already invested in projects like Ethena, Monad, and Plume. Galaxy's move to open its venture arm to outside investors reflects a growing trend in the crypto industry.
July 25, 2024 | 6:13 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Galaxy Digital has raised $113 million for its Galaxy Ventures Fund I LP, focusing on early-stage crypto startups. This marks a strategic shift for the company, which traditionally invested its own capital. The fund aims to build a diverse portfolio and has already invested in projects like Ethena, Monad, and Plume.
The $113 million fund represents a significant commitment to the crypto industry and a strategic shift for Galaxy Digital. This move is likely to be viewed positively by investors, as it positions the company to capitalize on the growing blockchain and crypto ecosystem.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100