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Galaxy Digital closes a $ 175 million coding box to support startups in the early stage

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Galaxy Digital closed a project for $ 175 million, which is the first with external capital, as the company plans to invest in startups in the early stage.

The fund, which exceeded its goal of $ 150 million, represents the first time that Galaxy is accepted outside the capital. To date, the company has only relied on its public budget for investments, According to To a report from Fortune.

The general partner, Mike Giababa, told the executive that the goal is to support companies in the early stage using Stablecoins, Defi applications and other Blockchain cases that exceed speculation.

“You see this basic shift from more speculative use of Blockchains to something much more … concrete,” said Fortune.

Galaxy expands adventure arm after FTX collapsed

According to Giambapa, Galaxy had long wanted to expand its operation in the field of investment in the public budget, but it witnessed the appropriate time after the FTX collapsed.

“Quietly, we had this stablecoin revolution,” he said. “While the industry was reaching our feet again, it became clear that we wanted to transfer our privilege to the next level.”

The new Galaxy box, which carries both the general partner and the limited partner risks. Giambapa refused to identify other investors but described them as foundational players, including family offices and boxes associated with the clients of the asset management in Galaxy.

Galaxy Declare The end of the first $ 113 million in July 2024 and has already published 50 million dollars, supporting companies like Monad (Blockchain that focuses on performance) and Ethina (Source A. Pregnancy for pregnancy stablecoin).

Cointelegraph connects to Galaxy to comment but he did not receive a response by publishing.

Galaxy becomes a giant for encryption

Galaxy was founded in 2018 by former Goldman Sachs partner Mike Novgersrat ETFS boxes (ETFS)Mining and investment project.

In May, the company It was listed on the Nasdak Stock Exchange She reached 7 billion dollars in assets under management. Still, it is suffer A loss of $ 295 million in the first quarter of 2025 due to low prices and restructuring in the mining arm.

*Galaxy has $ 7 billion of assets on its platform. Source: Galaxy*

Cointelegraph mentioned, Galaxy Digital recorded its largest trading day in 2024 On November 5, on the day the US elections were summoned to 2024 and Donald Trump announced the elected president. On that day, the net value of Novoghatz increased by about 15 %, or about $ 600 million, to $ 4.6 billion.

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