Galaxy Digital to Raise $100M For 30 New Crypto Startups

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Galaxy Digital, a crypto investment company, aims to raise $100M for a recently-established fund to invest in about 30 new cryptocurrency startups. 

Galaxy Ventures has invested its capital in several crypto startups focusing on decentralized finance, infrastructure, and payments. In the world of cryptocurrency investments, a notable player is introducing an innovative investment approach. This is expected to not only raise funds but also awareness.

Galaxy Digital’s Plan To Raise $100 Million

Galaxy Digital’s venture arm has been leading the way by deploying its own resources into numerous crypto enterprises. Moreover, the company is changing its strategy by announcing plans to use external investors’ funds and its own. This marks a strategic shift in its investment approach.

They Will Invest In 30 Startups

Galaxy Ventures Fund I, LP aims to invest in up to 30 startups over the next three years. The fund plans to cast its net wide, focusing on companies that are making significant progress in financial applications, and software infrastructure.
Starting at $1 Million, the initial investments are ambitious. Galaxy’s success in leveraging its balance sheet for proprietary investments is continuing with this initiative. However, this time, it is taking a more direct approach by venturing into institutional-grade fund management.
This underscores a strategic shift towards broader, more inclusive investment mechanisms. Galaxy’s pivot demonstrates its ability to adapt and anticipate the complex yet lucrative landscape of crypto investments.

The Galaxy Ventures Fund I

According to an anonymous insider, Galaxy decided to start Galaxy Ventures Fund I and make it available to outside investors last year. The minimum investment in any startup will be $1 Million.
Galaxy said that they have been investing their own capital in all these innovators for years. Now, by partnering with outside investors, they are launching Galaxy Ventures Fund I LP.
Additionally, this will enable us to continue to support promising early-stage companies and fuel the digital asset ecosystem, Galaxy said in a statement on Wednesday. Galaxy has raised other venture funds in the past.
The new fund is a sign of a revival in venture capital investments in crypto. Bloomberg reported earlier that Paradigm is in talks with investors to raise between $750 Million and $850 Million for a new fund. 
Moreover, hack VC is raising at least $100 Million for another fund that will focus on seed-stage investments in crypto startups. Venture capitalists are rushing in amid a steep Bitcoin rally and renewed interest in crypto among retail and institutional traders alike.

Summary

Galaxy Digital’s venture arm is leading the way in investing in crypto enterprises that focus on financial applications and software infrastructure. This showcases their strategic shift towards inclusive investment mechanisms. Additionally, hack VC is raising $100 Million for a new fund that will focus on seed-stage investments in crypto startups.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of monetary loss.

Post source:https://www.thecoinrepublic.com/2024/04/04/galaxy-digital-to-raise-100m-for-30-new-crypto-startups/