According to TechFlow, on July 25, Bloomberg reported that billionaire Michael Novogratz's Galaxy Asset Management division has raised $113 million for an emerging crypto venture capital fund, focusing on early-stage crypto software, infrastructure and financial applications. The fund, called Galaxy Ventures Fund I LP, plans to build about 30 investment portfolios and has invested in projects such as Ethena, Monad and Plume.
Galaxy Digital Holdings said it expects to continue raising money to reach its $150 million goal next year. The company has invested $30 million to $50 million annually in various crypto startups, focusing on areas such as infrastructure, decentralized finance and payments.
