Novogratz’s Galaxy Digital raising $100M to fund crypto startups: Report

Galaxy Digital’s venture arm is in the initial phases of spinning up a $100 million fund, joining other VCs who are rushing back into crypto.

Mike Novogratz’s crypto conglomerate Galaxy Digital is reportedly in the starting stages of raising a $100 million venture fund targeting early-stage crypto startups, with most of the cash set to come from other investors.

Its venture arm, Galaxy Ventures, typically used company money for investments but decided to open up its new Galaxy Ventures Fund I to other venture capitalists last year, a person familiar with the matter told Bloomberg, per an April 4 report.

The minimum investment it’ll make into startups is $1 million, the person added.

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