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Galaxy Digital’s New Crypto Venture Fund: Firm Seeking $100 Million in Funding

Galaxy Digital expands venture investing with new $100M fund for early-stage crypto startups

Galaxy Digital, a prominent player in the crypto investment space, is expanding its horizons by launching a $100 million fund dedicated to early-stage crypto startups. This move signifies a significant step forward in the company's venture capital endeavors, aiming to attract outside investors to participate in the burgeoning crypto ecosystem.

The fund, named Galaxy Ventures Fund I, LP, marks a departure from Galaxy Digital's traditional approach of investing its own capital into crypto companies. With the launch of this fund, Galaxy aims to leverage external investments to further fuel innovation within the digital asset space.

According to an investor email, Galaxy Ventures Fund I, LP plans to invest in up to 30 startups over the next three years, with initial checks starting at $1 million. The fund will focus on supporting projects in the areas of financial applications, software infrastructure, and protocols built on blockchain technology.

Mike Wursthorn, Galaxy's head of communications, expressed enthusiasm about the initiative, stating: 

"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."

Galaxy Digital's move into institutional-grade fund management signifies a maturation of its investment strategy and a commitment to fostering growth and innovation within the crypto space. With its extensive experience and successful track record, Galaxy is poised to make a significant impact on the future of crypto entrepreneurship.