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Complete deposit and trading tasks to receive random LOT airdrops. Exclusive Alpha trading task await!
Galaxy Digital's first venture capital fund raised $175 million, exceeding its target.
According to a report by Fortune on June 26, deep tide TechFlow news, crypto giant Galaxy Digital announced the completion of its first venture capital fund's final fundraising, totaling $175 million, surpassing the initial target of $150 million. The fund will focus on startups in the intersection of TradFi and Crypto Assets, particularly stablecoins and Decentralized Finance applications.
As a publicly listed company, Galaxy not only uses its own funds to anchor investments for investors but also acts as both a limited partner and a general partner, providing retail investors with a rare opportunity to access a crypto venture capital portfolio. The fund has deployed approximately $50 million, with investments including trading blockchain Monad and the synthetic dollar protocol Ethena.
Mike Giampapa, the general manager of Galaxy, stated that the company decided to expand its venture capital business after the FTX collapse in 2022, seeing the revolutionary development in the stablecoin sector. The fund's investors are mainly institutional investors, including family offices and funds of funds that collaborate with Galaxy's asset management business.