Galaxy Digital Secures $175 Million for Venture Fund Amid Crypto Boom

Galaxy Digital, a leading digital asset and blockchain investment firm, has successfully secured over $175 million in capital commitments for its first venture fund. This fund is tailored to invest in early-stage companies focused on developing essential infrastructure and applications for the onchain economy. The fund's investment areas include stablecoins, payments, tokenization, and the underlying infrastructure that supports these technologies.

The initial target for the fund was $150 million, but the final close exceeded this amount due to strong investor demand for access to the expanding digital asset venture ecosystem. Mike Novogratz, the Founder and CEO of Galaxy Digital, underscored the significance of this achievement, noting that the successful fundraising during a challenging period for crypto venture capital highlights the company's unique market position. Novogratz emphasized Galaxy Digital's deep expertise in onchain markets and blockchain infrastructure, expressing the company's dedication to supporting founders and startups that are creating real-world use cases for crypto adoption.

Mike Giampapa, the Head of Galaxy Ventures, elaborated on the transformative potential of blockchain infrastructure in global financial markets. He highlighted the accelerating adoption of blockchain technology by both institutions and retail users, particularly in areas such as payments, capital markets, and broader financial services. By investing in the teams developing these core technologies, Galaxy Ventures aims to support their growth and gain a front-row seat to the most innovative concepts and products in the crypto space.

The fund's success coincides with the United States' continued dominance in crypto venture capital investments. Nearly half of all venture capital funding in the crypto sector during the fourth quarter of 2024 was directed to startups based in the US. This data underscores the country's leadership in crypto innovation and financing, despite regulatory challenges. The US accounted for 46% of the global capital invested in the crypto sector, significantly outpacing other regions. Additionally, the US led in the number of deals, capturing 36% of all VC transactions, with other regions following closely behind.