TechFlow news, June 26 — According to Fortune, cryptocurrency giant Galaxy Digital has announced the final close of its first venture capital fund, raising $175 million, surpassing its initial target of $150 million. The fund will focus on startups at the intersection of traditional finance and crypto, particularly stablecoins and decentralized finance applications.
As a publicly traded company, Galaxy not only committed its own capital as an anchor investor but also serves as both limited partner and general partner, offering retail investors rare access to a crypto venture portfolio. Approximately $50 million has already been deployed, with investments in blockchain Monad and synthetic dollar protocol Ethena.
Galaxy managing director Mike Giampapa said the company decided to expand into venture capital following the 2022 FTX collapse, recognizing revolutionary developments in the stablecoin space. Fund investors are primarily institutional, including family offices and funds-of-funds that collaborate with Galaxy’s asset management business.
