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Galaxy Digital raises $175 million in its first fund to expand cryptocurrency investments.
Galaxy Digital has successfully raised 175 million USD for its first venture capital fund using external capital, exceeding the target of 150 million USD.
The fund focuses on early-stage cryptocurrency startups, particularly in the areas of stablecoins, DeFi, and practical blockchain applications. Galaxy serves as the lead investor and does not disclose the identities of other partners, only stating that they are financial institutions and family offices. The fund has disbursed 50 million USD to projects such as Monad and Ethena. This move comes after Galaxy expanded its investment arm following the collapse of FTX. Founded in 2018 by Mike Novogratz, Galaxy currently manages 7 billion USD in assets and is listed on Nasdaq. However, the company reported a loss of 295 million USD in Q1 2025 due to falling cryptocurrency prices and the restructuring of its mining segment.