Galaxy Ventures Closes Oversubscribed $175M Fund Amid Growing Crypto VC Appetite
Galaxy Asset Management has closed its inaugural Galaxy Ventures Fund I at over $175 million, surpassing its $150 million target amid what industry observers describe as a difficult environment for crypto venture fundraising, the firm announced in a statement on Thursday.
The fund launch formalizes Galaxy Ventures’ investment activities, which previously operated from Galaxy’s balance sheet since 2018. The portfolio already includes promising startups such as Ethena, Monad, Plume, and Yellow Card, with Galaxy Ventures having backed more than 120 companies including historical balance sheet investments.
Galaxy Ventures will focus on early-stage companies building critical infrastructure and applications for the onchain economy,…
