Galaxy Ventures Closes $175M Fund Amid Crypto VC Resurgence

Galaxy Asset Management has secured $175 million for its inaugural venture fund, exceeding its $150 million target despite a challenging fundraising climate for crypto ventures. The oversubscribed Galaxy Ventures Fund I formalizes investment activities previously conducted from Galaxy's balance sheet since 2018.

The portfolio includes early-stage standouts like Ethena and Monad, building on Galaxy's track record of backing over 120 blockchain companies. Investment focus will center on foundational infrastructure for the onchain economy—particularly financial applications, protocols, and software supporting stablecoins, payments, and tokenization.

"This milestone demonstrates our team's differentiated position in crypto venture," said Galaxy CEO Mike Novogratz. "Our depth in onchain markets allows us to identify founders who are driving tangible adoption." The closing coincides with renewed institutional interest in blockchain infrastructure plays.