Galaxy Digital Raises $175M Venture Fund for Crypto Investments

The cryptocurrency investment firm, Galaxy Digital, has successfully closed its first investment fund at $175 million. This is a significant step, indicating that they are now utilizing external funds to invest in new cryptocurrency ventures. The fund raised more than its $150 million goal.

This is the first time Galaxy Digital has utilized outside capital for its investment projects, as it had previously only drawn on its own funds. The new fund will focus on fast-growing areas in the expanding digital asset market.

Additionally, the firm intends to invest in stablecoins, explore new ways to utilize digital tokens across various industries, and develop more efficient payment methods. The fund will also support the basic software that makes these advances possible.

Galaxy Digital Expands Investment Reach

Mike Giampapa, a leader at Galaxy Digital, expressed excitement, saying:

“We’re seeing an acceleration of adoption from both institutions and retail users globally—especially around use cases like payments, capital markets, and financial services more broadly.”

Mike Novogratz, the founder and CEO of Galaxy Digital, noted that they reached their fundraising goal during a difficult time for crypto investments. This success shows the company’s strong position and the trust investors have in their plan.

Galaxy Digital, a major investor in the fund, actively manages and invests in it. Other investors, including large institutions, wealthy families, and digital asset companies, also believe in the fund’s potential and have joined.

The company had previously announced a first closing of $113 million in July 2024 and has already started investing, putting $50 million into promising early companies. Some of these early investments include Monad, a blockchain designed for better performance, and Ethena, which offers a stablecoin that earns interest.

Galaxy Seeks SEC Approval to List on Nasdaq

CoinTab reported in April that the firm is restructuring its business and has requested to list its stock, GLXY, on the Nasdaq exchange.

In May, the firm listed on the Nasdaq and reported managing $7 billion in assets under management. However, the company reported a net loss of $295 million in the first quarter of 2025, due to a general market decline affecting asset values and changes made to their mining business.

Interestingly, Galaxy Digital experienced its busiest trading day of 2024 on November 5th, coinciding with the announcement of the 2024 US election results, which declared Donald Trump the president-elect. On this particular day, Novogratz’s wealth increased by approximately 15%, amounting to $600 million, and raised his total estimated wealth to $4.6 billion.