Crypto venture fund Galaxy Ventures could hit a $180M fundraise: Report
Michael Novogratz’s Galaxy Ventures Fund I LP is expected to raise around $175 million to $180 million by the end of June to build a portfolio of 30 crypto and blockchain startups.
According to an April 17 Bloomberg report citing people familiar with the matter, the fund — which has had a focus on payments and stablecoins — has surpassed its goal of raising $150 million.
The fund closing above target comes at a time when crypto venture capital is thin on the ground despite an industry-friendly administration in the United States.
Earlier this year, Novogratz’s firm reported that 2024 was also a tough year for crypto VC despite potential market drivers such as Bitcoin ETFs, the memecoin craze, and AI agents, which it said were…
