Galaxy Digital Closes $175M Crypto Fund to Back Early-Stage Startups

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Galaxy Digital has closed a $175 million venture fund, its first with outside capital, as the company ramps up plans to invest in early-stage crypto startups.

The fund, which exceeded its $150 million target, marks the first time Galaxy has accepted outside capital. Until now, the company had relied solely on its own balance sheet for venture investments, according to a report from Fortune.

General partner Mike Giampapa told the outlet that the goal is to back early-stage companies utilizing stablecoins, DeFi applications and other blockchain use cases…



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Galaxy Digital Closes $175M Crypto Fund to Back Early-Stage Startups


Galaxy Digital has closed a $175 million venture fund, its first with outside capital, as the company ramps up plans to invest in early-stage crypto startups.

The fund, which exceeded its $150 million target, marks the first time Galaxy has accepted outside capital. Until now, the company had relied solely on its own balance sheet for venture investments, according to a report from Fortune.

General partner Mike Giampapa told the outlet that the goal is to back early-stage companies utilizing stablecoins, DeFi applications and other blockchain use cases…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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