According to CoinDesk, Galaxy Digital’s venture capital team has long invested in crypto companies with its own capital, and now, they plan to do the same with capital from outside investors. The crypto investment giant is raising a $100 million fund that will invest in early-stage crypto companies. Galaxy moved its venture capital franchise into its asset management business in 2023. The new fund, called Galaxy Ventures Fund I, LP, plans to invest in up to 30 startups over the next three years, with investment amounts starting at $1 million. It will target financial applications, software infrastructure, and protocols built within the crypto space. According to the email, Galaxy is already a large investor in crypto companies, having invested in more than 100 projects over the past six years, with a total investment amount of $200 million. Although Galaxy's interactive team has received outside capital before, this is a first for the venture capital team. The new fund will "continue the success of our own balance sheet investing, but through direct, institutional-level funds," the email said.
