Galaxy Digital’s investment arm is preparing to raise $100 million for investments in early-stage crypto companies. The information was revealed in an investor email Galaxy Venture Fund I, LP sent.
Looking to invest in as many as 30 startups, with a minimum check of $1 million, the venture capital fund will target financial applications, software infrastructure, and crypto-based protocols.
“We’re excited to build on our successful track record of investing in digital asset ventures and blockchain infrastructure. For years, we’ve been putting our own capital behind these innovators. Now we’re launching Galaxy Ventures Fund I LP to partner with outside investors, allowing us to continue fueling the digital asset ecosystem by backing promising early-stage ventures,” said Mike Wursthorn, Galaxy’s head of communications.
While Galaxy Digital often invests its own money in crypto companies, this time, it’s raising funds from outside for this purpose. In the email, Galaxy revealed that it has invested $200 million in over 100 projects in the last six years.
The new fund aims to provide continuity to Galaxy Venture’s proprietary balance sheet investing through its institutional-grade fund. While Galaxy’s Interactive team previously used the outside fund, this is the first time the venture team will access outside funds for its investment goals.
Meanwhile, GK8, a digital asset custody solution provider owned by Galaxy Digital, has introduced the Tokenization Wizard, designed to assist financial institutions in tokenizing real-world assets such as real estate and fine art. This tool streamlines converting traditional assets into digital tokens, offering a user-friendly interface and customizable options.
