Galaxy Ventures Raises $113 Million for Digital Asset Innovation

• Galaxy Ventures raised $113M to invest in early-stage crypto companies, focusing on protocols, infrastructure, and financial applications.
• The fund, led by Will Nuelle and Mike Giampapa, aims to build a portfolio of 30 investments, already supporting over 100 companies.
• Galaxy Ventures targets $150M, expanding its mission of digital asset innovation since 2018.

Galaxy Ventures, an affiliate of Galaxy Digital Holdings, has raised $113 million to invest in early-stage companies focusing on crypto protocols, software infrastructure, and financialized applications. Since fundraising started in the second quarter of this year, institutional allocators, family offices, and high-net-worth individuals have shown keen interest. Consequently, Galaxy expects to continue fundraising into next year, aiming for a $150 million target.

Expanding Galaxy’s Mission

Galaxy’s Chief Investment Officer, Chris Ferraro highlighted that supporting founders, technologies, and companies leading digital asset innovation has been Galaxy’s mission since 2018. 

Galaxy, with external capital, can leverage its expertise, experience, and proven track record to help institutional investors access the next growth wave. This initiative will expand Galaxy Ventures’ investments in companies involved in digital asset innovation.

Leadership and Vision

Galaxy Ventures General Partners Will Nuelle and Mike Giampapa will lead the venture capital fund. They have already invested in over 100 portfolio companies, including Ethena, M^0, Monad, and Plume. 

Nuelle stated that success for the fund would be defined by supporting teams making global payments cheaper and faster, expanding access to financial markets, and designing new base layer infrastructure for the financial internet-of-value. The goal is to build a portfolio of approximately 30 investments.

Future Prospects

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Considering the additional interest from institutional investors toward the digital asset sector, Galaxy Ventures expects continuous growth and development. This significant investment demonstrates confidence in the future of digital assets and the innovative potential of early-stage companies. 

The fund’s progress will be closely watched as it aims to reach its $150 million target and support transformative digital asset projects. With substantial support from institutional investors and a clear mission, the fund is poised to drive significant advancements in the crypto space.

Galaxy Ventures’ successful fundraising marks a pivotal moment in digital asset innovation. As the fund continues to grow, its impact on the digital asset sector will likely be profound. The progress and achievements of Galaxy Ventures will shape the future of financial technology and infrastructure.