Galaxy Digital Launches $175 Million Fund for Crypto Startups
Galaxy Digital, led by Mike Novogratz, has unveiled a new $175 million fund for crypto startups. This move aims to support emerging projects in decentralized finance (DeFi) and stablecoins.
According to a Fortune report, the fund surpassed its initial $150 million goal. Mike Giampapa, a general partner at Galaxy Digital, said the company will invest in firms blending traditional finance with crypto.
Galaxy Digital’s fund has already invested $50 million in projects like Monad and Ethena. The company is publicly traded on nasdaq, allowing investors to benefit from crypto startups through its stock.
Galaxy Digital operates in various crypto sectors, including venture capital and mining. it manages $7 billion in assets, mostly in crypto startups. The firm is also exploring a Solana ETF and has partnered with Invesco to launch the Invesco Galaxy Solana Trust.
Positive U.S. crypto regulations are encouraging venture funds and financial institutions to explore crypto-traditional finance intersections. Galaxy Digital aims to lead this innovation wave.
- Focus on defi and stablecoins
- surpassed initial funding goal
- Explores Solana ETF and Invesco Galaxy Solana Trust
With favorable regulations,Galaxy Digital is expanding its crypto operations. This fund marks a significant step in bridging traditional finance and crypto, supporting the shift from speculative to practical blockchain use cases.
