Galaxy raises $175 million for crypto fund focused on stablecoins

• Galaxy Ventures focuses on stablecoins and tokenization
• Fund exceeds target and attracts institutional investors
• Mike Novogratz targets blockchain infrastructure startups

Galaxy Asset Management, the investment arm of Galaxy Digital Holdings, has raised $175 million for its first external venture capital fund, Galaxy Ventures Fund I LP. The fund surpassed its initial target of $150 million and will be allocated to approximately 30 startups operating in blockchain protocols, software infrastructure and tokenized financial solutions.

⚡ Flash News ⚡

💼 Galaxy closes $175 M crypto venture fund 🚀 @galaxyhq has closed its first externally raised venture fund at $175 M (target $150 M), targeting early-stage companies in stablecoins, tokenization, and DeFi. pic.twitter.com/ZC8JohLURF

— Crypto economy (EN) (@CryptoEconomyEN) June 26, 2025

The initiative marks a new phase for Mike Novogratz's company, which has been financing projects from its own balance sheet since 2018. With the new fund, the management company will now receive contributions from institutional investors, family offices and high-net-worth individuals.

Em release , Galaxy said the fund is focused on “secular growth” areas, including stablecoins, digital payments and asset tokenization, as well as the infrastructure that supports these services. “Closing Galaxy Ventures’ first fund above target, at a time when raising capital for crypto ventures has historically been difficult, demonstrates our team’s unique advantage in the market,” Novogratz said.

The fund began raising capital in Q2024 113, with an initial investment of US$XNUMX million. Given the growing institutional interest, Galaxy decided to expand its fundraising. Chris Ferraro, President and CIO of the company, commented: “By raising external capital, we can extend our expertise, experience and proven track record to institutional investors eager to capture the next wave of growth.”

Galaxy Ventures has invested in over 120 companies to date. Among the names backed by the new fund are 1Money, Ethena, Monad, Plume, Ubyx and Yellow Card. The manager also operates in the crypto asset ETF sector, having launched spot Bitcoin and Ethereum products in the US in partnership with Invesco. It recently filed with the SEC for a spot Solana ETF.

Additionally, the previous month, Galaxy completed its headquarters move to the United States and is awaiting a Nasdaq listing. However, it reported a net loss of $295 million in the first quarter, attributed to the devaluation of digital assets and accounting adjustments in the mining sector.