Galaxy Announced Final Close Of Oversubscribed Galaxy Ventures Fund I At Over US$175 Million

Galaxy Digital unit Galaxy Asset Management on Thursday closed an oversubscribed call for commitments to its Galaxy Ventures Fund I, LP.

The fund closed with over US$175 million in capital commitments, exceeding its target of US$150 million, said Galaxy.

A statement noted that the fund is focused on investing in early-stage companies developing critical infrastructure and applications for the cryptocurrency environment.

"Galaxy Ventures closing its first fund above the target at a time when raising crypto venture is historically difficult showcases our team's unique edge in the market," said Galaxy Digital Chief Executive Officer, Mike Novogratz. "With deep roots in onchain markets and blockchain infrastructure, we're committed to backing founders and startups building real-world use cases that are shaping the next chapter of crypto adoption."

Galaxy Digital's shares were last seen up $0.09 to $26.70 on the Toronto Stock Exchange.