Galaxy Digital Successfully Completes Fundraising for Venture Fund
Date: 2025-06-27 Author: Oliver Abernathy Categories: BUSINESS
US company Galaxy Digital has announced the closing of the first round of funding for its venture fund Galaxy Ventures Fund I LP, raising a total of $175 million. This exceeds the initial goal of $150 million, and the fund is the first in which Galaxy Digital acted as a general limited partner, attracting external investors.
The main focus of the fund is to support startups operating at the intersection of traditional finance and the crypto industry, with a special attention to projects in the stablecoin and decentralized finance (DeFi) segments. Galaxy Digital General Partner Mike Giampapa noted that the industry is moving from speculative use of blockchain technologies to practical and sustainable business models.
Before the launch of the fund, Galaxy Digital invested in crypto projects exclusively from its own balance sheet, including companies such as Fireblocks. However, after the collapse of the FTX exchange in 2022, the company decided to expand its venture capital division and start attracting third-party investors from 2024. The first round of financing in July last year amounted to $ 113 million.
"During the market recovery, we realized that it was time to take the venture division to the next level," Giampapa emphasized. The fund's participants include institutional investors, family offices and funds that already cooperate with Galaxy Digital in the field of asset management.
At the moment, the fund has already invested about $ 50 million in Monad, a blockchain network for trading, and Ethena, an issuer of a stablecoin backed by crypto assets.
Although Galaxy Ventures Fund I LP is a separate investment vehicle, it is closely integrated into the overall Galaxy Digital ecosystem, which allows it to use the client base and strengthen the development of new products. According to Mike Giampapa, the company's goal is to combine traditional finance with cryptocurrency technologies, creating new investment opportunities.
Galaxy Digital is active in various areas: asset management, crypto trading, mining, launching ETF products. In 2024, the company launched a Bitcoin ETF together with Invesco and is considering launching the Solana ETF. Despite a loss of $295 million in the first quarter of 2025, the company's assets under management reach about $7 billion.
It should be noted that the US Securities and Exchange Commission recently approved the listing of Galaxy Digital shares on the Nasdaq exchange, which can significantly increase liquidity and attract new investors to the company.
