Galaxy Digital Raises $175m For First Ventures Fund

Last Updated

Jun 26, 2025

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Galaxy Digital closed Galaxy Ventures Fund I with over $175M—surpassing its $150M target—to back early-stage blockchain infrastructure and applications (stablecoins, payments, tokenized assets). The fund formalizes a shift from balance-sheet investing and brings external institutional capital.

Strategic focus: Early-stage bets on blockchain infrastructure, stablecoins, payments and tokenization aim to shape the next crypto wave.
Institutional validation: Raising above target and attracting outside LPs signals trust from institutions and family offices.
Operational leverage: Portfolio companies gain access to Galaxy’s trading, lending and infrastructure capabilities to accelerate growth.

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Galaxy Digital announced today that it had closed its first external venture capital fund with over $175million in commitments. The fund, named Galaxy Ventures Fund I, exceeded its original $150m target due to high demand from global investors.

Galaxy’s big bet on crypto’s next wave

According to the official announcement on 26 June, the fund aims to invest in early-stage startups building the next generation of blockchain infrastructure and applications.

These include projects focused on:

Stablecoins
Digital payments
Tokenized assets
Blockchain Software infrastructure.

The fundraising marks a shift for Galaxy, which had previously invested directly from its balance sheet.

Galaxy Ventures says it already has a portfolio of promising startups, including Ethena, Monad, Rain, and Yellow Card.

“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 Galaxy CEO Mike Novogratz. “We’re backing founders building real-world use cases.”

Meanwhile, Mike Giampapa noted that, “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.”

Why it matters

In simple terms, this fund means Galaxy is putting fresh money into new crypto ideas at a time when many others are pulling back. It also means outside investors — including institutions and family offices — trust Galaxy to find and support the right teams.

Beyond capital, Galaxy offers its portfolio companies access to its broader business, including blockchain infrastructure, trading, and lending. This added support could give startups a better shot at success.

Galaxy was among the investors in the now-defunct FTX exchange, highlighting the risks of early-stage investing in crypto. The loss did not stop the firm from investing in promising projects. With GVF I, Galaxy seems to be doubling down on its strategy — this time with a dedicated fund and a refined approach.

Galaxy’s growing war chest

According to data from Arkham Intelligence, Galaxy holds more than $712m in digital assets. Its Bitcoin holdings alone are worth over $467m, putting it among the top five institutional holders.

Galaxy Digital crypto holdings. Source: Arkham Intelligence

The firm also holds Ethereum (ETH), Solana (SOL), and stablecoins like USDC and USDT, showing its deep involvement in crypto markets.

Galaxy Digital explained

Galaxy Digital is a publicly traded financial services firm focused on digital assets and blockchain. It operates across multiple verticals, including trading, asset management, and infrastructure.

On 16 May 2025, Galaxy was officially listed on Nasdaq under the ticker GLXY, further cementing its status as a major institutional player in the crypto space. It’s one of the most active institutional players in crypto.

We’re live from Nasdaq. Galaxy is ringing the Opening Bell. $GLXY 🚀 https://t.co/GXyIV8vBvF

— Galaxy (@galaxyhq) May 16, 2025

The launch of Galaxy Ventures Fund I positions the firm to shape what comes next in crypto.

Adewale Olarinde is an experienced crypto journalist and content strategist with over five years of expertise covering blockchain technology, digital assets, and the evolving Web3 landscape.

At CryptoManiaks, he delivers clear, data-backed insights that simplify complex market trends for a wide audience, from crypto newcomers to institutional readers. Adewale’s work combines rigorous on-chain analysis with accessible storytelling, helping readers make informed decisions in a fast-paced and often volatile industry.

He is proficient in analytical tools such as Glassnode, Santiment, Coinglass, and CryptoQuant, which he uses to craft timely reports on price movements, token performance, and sector-wide developments.

Before joining CryptoManiaks, he contributed to several leading crypto publications and supported content strategy for blockchain-native projects. Adewale is also the founder of TokenTalks, a publication focused on deep crypto market research and narrative-driven analysis. Known for his precision and editorial discipline, he consistently bridges the gap between data and narrative in the Web3 space.

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