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Galaxy's New Fund Successfully Raises $175 Million, Marks First External Capital Infusion

Summary: According to reports from Fortune, Mike Novogratz's Galaxy is expanding its venture capital business with a $175 million fund. The company announced on Thursday that the fund has completed its final raise, exceeding the initial $150 million target. This marks Galaxy's first acceptance of external capital, with the company still acting as the anchor investor ...

According to reports from Fortune, Mike Novogratz's Galaxy is expanding its venture capital business with a $175 million fund. The company announced on Thursday that the fund has completed its final raise, exceeding the initial $150 million target. This marks Galaxy's first acceptance of external capital, with the company still acting as the anchor investor with its own funds. As a company listed on NASDAQ in May, Galaxy's new fund also provides retail investors with a rare opportunity to participate in a crypto venture capital portfolio.

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