Galaxy Digital Shakes Up Crypto VC With $175M Fund—Now Taking Outside Money

Mike Novogratz's Galaxy Digital just dropped a grenade in crypto venture capital—launching a $175M war chest and, for the first time, letting outsiders ride the rocket.

The big twist?
The fund's hunting for 'outsized returns' (read: moonshots) in early-stage blockchain infra. Because nothing says 'measured risk' like betting millions on unproven protocols.

Wall Street meets Wild West
—while traditional VCs nurse their FTX hangovers, Galaxy's doubling down. Pro move or power play? Either way, the fund's launch proves crypto's institutional FOMO is alive and kicking.

One hedge fund manager quipped: 'They’ll either 10x this or write a very creative loss porn thread.' Place your bets.

A New Chapter for Galaxy Ventures

This launch marks the first time Galaxy Ventures is accepting capital from outside investors, having previously deployed capital from Galaxy’s own balance sheet since 2018.

Galaxy Ventures said it is broadening its reach and influence within the digital asset investment space. The fund has formed a portfolio of early-stage startups such as Monad, Ethena, Arch Lending, Rail, and Yellow Card, among others. In total, including previous balance sheet investments, Galaxy Ventures says it has backed over 120 companies.

The Team Behind the Venture

The Galaxy Ventures team is led by Will Nuelle and Mike Giampapa, supported by the Ventures Platform team that helps portfolio companies scale through operational support.

CEO Mike Novogratz stresses that the oversubscribed close shows the firm’s market insight and its commitment to supporting real-world use cases for blockchain technology.

Giampapa adds that as blockchain infrastructure continues to gain traction —especially in areas like payments and financial services—the fund is positioned to engage directly with the next wave of innovation in crypto.

Galaxy Digital Lists on Nasdaq

On May 16, Galaxy Digital, began trading on the Nasdaq. The debut followed Coinbase’s inclusion in the S&P 500 and eToro’s public listing.

Galaxy CEO and founder Novogratz described the step as a “milestone” in a statement on April 30, emphasizing that it will strengthen Galaxy’s role in bridging investor access to the digital asset and artificial intelligence sectors.

Previously listed on the Toronto Stock Exchange, Galaxy Digital—known for its crypto investments and focus on AI data center infrastructure.