Exclusive: Crypto giant Galaxy raises $175 million for first venture fund amid stablecoin boom
Mike Novogratz, a colorful former Goldman Sachs partner and blockchain industry veteran, founded Galaxy in 2018 to bridge the worlds of traditional finance and crypto. After years of investing in digital assets startups using capital from its balance sheet capital, Galaxy is expanding its venture business through a $175 million fund. On Thursday, the company announced the final close of the fund, which exceeded its initial target of $150 million.
In an interview with Fortune, Galaxy general partner Mike Giampapa said the firm decided to grow its venture capital operations in order to broaden its bets into startups working on the growing intersection between traditional finance and crypto, including stablecoins and decentralized…
