Galaxy Announces Final Close of Oversubscribed Galaxy Ventures Fund I at Over $175M

Cision Canada

16 hours ago

Galaxy Ventures raises its inaugural venture fund with the support of a global base of limited partners to back early-stage startups building the onchain economy
NEW YORK, June 26, 2025 /CNW/ - Galaxy Asset Management, an affiliate of Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY) and one of the world's largest digital asset and blockchain investment managers, today announced the final close of its oversubscribed Galaxy Ventures Fund I, LP ("GVF I" or "the Fund"). Driven by strong investor demand for access to the growing digital asset venture ecosystem, the Fund closed with over $175 million in capital commitments, exceeding its target of $150 million.
The Fund is focused on investing in early-stage companies developing critical infrastructure and applications for the onchain economy. Its investment strategy spans the categories of financialized applications, blockchain protocols, and software infrastructure. The Fund specifically has and will continue to target investments in secular growth areas like stablecoins, payments, and tokenization, plus all the supporting infrastructure that makes such technologies viable.
This milestone marks a new chapter for Galaxy Ventures, which had previously invested from Galaxy's balance sheet since 2018. Given Galaxy Ventures' strong track record of supporting visionary founders at the earliest stages, GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio already includes some of the most promising startups in the space such as 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others. Including historical balance sheet investments and the current GVF I portfolio, Galaxy Ventures has backed more than 120 companies to date.
"Galaxy Ventures closing its first fund above the target at a time when raising crypto venture is historically difficult showcases our team's unique edge in the market," said Mike Novogratz, Founder and Chief Executive Officer of Galaxy. "With deep roots in onchain markets and blockchain infrastructure, we're committed to backing founders and startups building real-world use cases that are shaping the next chapter of crypto adoption."
The Galaxy Ventures team is headed by Will Nuelle and Mike Giampapa. They are supported by a team of investors and a dedicated Ventures Platform function that directly supports portfolio companies with in-house company building resources and connectivity to Galaxy's global business lines including blockchain infrastructure, lending, trading, and more. With a global team of more than 550 employees, Galaxy offers portfolio companies deep industry connectivity, insight, and access to growth opportunities that help portfolio companies navigate the rapidly shifting crypto landscape.
"Blockchain infrastructure is poised to revolutionize global financial markets. We're seeing an acceleration of adoption from both institutions and retail users globally—especially around use cases like payments, capital markets, and financial services more broadly," said Mike Giampapa. "By investing in the teams that are building these core technologies and supporting their growth directly, we have a front-row seat to the most novel concepts and products in crypto."
About Galaxy
Galaxy (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, investment banking, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
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