Galaxy Digital (GLXY) Skyrockets After $175M Venture Fund Smashes Target – Crypto Bulls Charge

Galaxy Digital's stock surges as its latest crypto venture fund closes $175M—proving Wall Street still can't resist chasing digital gold rushes.

Market momentum builds

GLXY shares ripped higher today as Mike Novogratz's crypto powerhouse locked down a war chest 17% larger than its original target. The oversubscribed fund signals institutional FOMO is alive and well—even after last year's 'crypto winter' scare tactics.

Venture arm flexes

Galaxy's investment division keeps stacking wins while traditional VCs nurse their NFT hangovers. The fresh capital positions the firm to back blockchain infrastructure plays while competitors remain sidelined by regulatory jitters.

Street shrugs off skeptics

Another quarter, another 'crypto is dead' narrative proven wrong. Galaxy's fund close coincides with Bitcoin reclaiming key psychological levels—because nothing revives institutional appetite like watching their FOMO portfolio bleed for 18 months straight.

TLDR

• Galaxy Digital just raised $175 million to supercharge the next wave of Web3 innovation.

• GLXY stock climbed as investors cheered the launch of Galaxy’s first outside-funded venture arm.

• From stablecoins to tokenized assets, Galaxy is backing the future of onchain finance.

• A massive new mining deal could bring in $4.5 billion as Galaxy powers up its Helios facility.

• With over 120 startups funded, Galaxy is building more than just a portfolio — it’s shaping the crypto economy.

Galaxy Digital shares ROSE early Thursday, gaining over 1.40% as the market responded to a key business milestone. The firm announced the final close of its Galaxy Ventures Fund I, raising $175 million. The stock rebounded sharply above $19.65 after dipping below $19.50 at the open.

Galaxy Digital (GLXY)

This marked the first time Galaxy accepted capital from outside parties for venture investing. The firm had funded early-stage startups using its balance sheet. The fund’s oversubscription signaled strong market confidence despite broader crypto fundraising challenges.

The $175 million fund will support startups across stablecoins, tokenization, payments and blockchain infrastructure. It is anchored by Galaxy, which holds both general and limited partner stakes. The fund has deployed over $50 million into select projects since its first close in July 2024.

New Capital to Expand Galaxy’s Onchain Reach

Galaxy Ventures will direct the new capital into applications and tools built for the on-chain economy. The portfolio includes names like Monad, Ethena, Arch Lending, and Yellow Card. Overall, the firm has backed more than 120 startups across its venture history.

The venture arm operates under Galaxy Asset Management, an affiliate of Galaxy Digital Inc. listed on Nasdaq and the Toronto Stock Exchange. Led by Will Nuelle and Mike Giampapa, the team leverages Galaxy’s broader infrastructure and trading arms to assist portfolio firms. This structure enables emerging startups to gain real-time support and DEEP ecosystem access.

Galaxy Ventures targets areas with long-term institutional appeal and growing user demand. The strategy covers financial services, DeFi, capital markets, and real-world asset tokenization. Each portfolio firm gains access to Galaxy’s global team and specialized platform tools.

Analyst Views and Business Expansion Continue

GLXY stock has delivered over 60% returns in the past 12 months, reflecting growing momentum in its diversified model. Analysts at Benchmark, Piper Sandler, and BTIG maintain bullish ratings, though some have trimmed price targets, citing macro risks. The company continues to scale despite Q1 losses related to its mining operations.

Galaxy recently signed a 15-year lease with CoreWeave for 133MW at its Helios facility, aiming to generate $4.5 billion in revenue. The deal includes options for expansion, with 600MW of gross capacity already approved. This long-term approach supports Galaxy’s shift toward sustainable digital infrastructure growth.

The Helios site plays a key role in the firm’s digital asset mining and hosting strategy. It complements Galaxy’s asset management and venture businesses. With over 550 employees globally, Galaxy continues to expand its influence across the Web3 ecosystem.