Galaxy Digital’s venture capital arm, led by Mike Novogratz, has exceeded its fundraising goal for its latest fund, highlighting renewed investor interest in the digital asset sector.
According to sources familiar with the matter, Galaxy Ventures Fund raised more than its initial target, reflecting optimism for blockchain and crypto startups despite ongoing market volatility.
The new fund, managed by Galaxy Digital, aims to back early-stage companies in blockchain, DeFi, and Web3 infrastructure. Investors include institutional backers and high-net-worth individuals who see long-term potential in the sector. The fund’s oversubscription demonstrates confidence in the ability of experienced managers to identify and support promising projects in the evolving digital asset landscape.
This fundraising milestone comes when venture capital investment in crypto has slowed compared to previous years. Many funds have struggled to attract capital amid regulatory uncertainty and market corrections. However, Galaxy’s achievement suggests a shift in sentiment, as investors increasingly look for opportunities with established players and robust due diligence processes.
Galaxy Ventures has also backed Raincards & RedotPay because crypto-settled card programs could significantly expand stablecoin utility.
Mike Novogratz, CEO of Galaxy Digital, has been a strong proponent of blockchain technology, highlighting the need to support innovative startups to advance digital finance. His leadership has strengthened investor confidence, and the success of the Galaxy Ventures Fund may inspire other venture firms to re-enter the market or expedite fundraising. Despite short-term challenges, institutional investors’ interest in blockchain and Web3 remains robust, potentially driving more funding towards projects focused on scalability, security, and practical applications.
Notably, Galaxy Digital has received approval from the U.S. Securities and Exchange Commission for a Nasdaq listing anticipated in May 2025. This development involves a reorganisation where the company will move its base from the Cayman Islands to Delaware, establishing a new U.S.-based holding company named Galaxy Digital Inc.
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