According to Bloomberg, billionaire Galaxy Ventures Fund I LP plans to invest in about 30 projects and has invested in projects such as Ethena, Monad and Plume. The fund expects to raise $150 million by next year at the latest.
Galaxy Ventures invests $30 million to $50 million per year in crypto startups, focusing on infrastructure, decentralized finance, and payments. Last year, Galaxy moved the team to its asset management division and launched Galaxy Ventures Fund I, which is open to the public.
Partner Mike Giampapa said blockchain will be used to settle most transactions in the next one to two decades. Partner Will Nuelle said the fund plans to invest $3 million to $5 million per project, but the amount could vary.
