galaxy digital holdings It is reportedly in talks with outside investors to raise a $100 million fund to invest in early-stage crypto companies.
The planned Galaxy Ventures Fund I will aim to invest in up to 30 startups over three years, with a focus on financial applications, software infrastructure, and building protocols in cryptocurrencies, CoinDesk announced. report Wednesday (April 3), citing an email from an investor.
Galaxy Digital Holdings did not immediately respond to PYMNTS' request for comment.
Galaxy Digital has been investing in cryptocurrency companies for many years, but this is the first time its venture team has leveraged capital from outside investors in addition to its own funds, according to the report.
According to the report, the company has invested $200 million in 100 projects involving cryptocurrency companies over the past six years.
This news comes a day after the issue focused on cryptocurrencies was reported. venture capital (VC)Fund paradigm is in talks with investors to raise $750 million to $850 million for a new fund.
In 2021, Paradigm raised $2.5 billion, the largest crypto fund in history at the time.
February 20th, web 3 venture capital company hack VC has closed its $150 million venture fund I to invest in early-stage Web3 opportunities, and its investment strategy includes Web3 infrastructure, financial infrastructure, and Web3 and artificial intelligence ( said that it focuses on the intersection of AI).
The latest fund joins Hack VC's $200 million initial seed fund, bringing the firm's combined commitments to $350 million and approximately $425 million in assets under management.
“With millions of users around the world and clear regulations, it's clear that Web3 is here to stay.” alex packThe managing partner of Hack VC said this when announcing the latest fund. “However, just like in the early days of the Internet, an infrastructure paradigm shift in scalability, security, and ease of use is still required before Web3 is ready for mainstream use.”
VC investment in cryptocurrency industry Funding plummeted to just $9.5 billion in 2023, less than a third of the previous year's total, as scandals and regulatory issues hit fundraising hard.
Now that cryptocurrencies are making a comeback, more VC firms are looking to raise money.
