Picture this: Mike Novogratz, that dashing swashbuckler of the crypto seas, has managed to coax his Galaxy Ventures Fund I LP beyond the modest milestone of $150 million. Yes, dear reader, the cocksure captain is now expecting to dock somewhere between $175 million and $180 million by the end of June — which is either a clever trick or sheer luck, or perhaps a glimmer of both, as Bloomberg breezily reports.
This fund, mind you, is not your average fintech flop; it’s a sprightly young thing with a penchant for early-stage startups, fond of dabbling in payments and stablecoins, whatever those may be. And do keep this tidbit tucked in your knickerbockers: Venture funding in the crypto world these days is about as easy as teaching a cat to fetch. Yet, undeterred, Galaxy Ventures has flung open its doors, inviting the crème de la crème — family offices and those majestically wealthy sorts — to toss their hats into the ring.
Before this, the venture merry band was content to pluck $30 million to $50 million annually from their own treasure chest, but now they’re playing with the cavalry. And lest we forget, Galaxy recently clinched the SEC’s blessing for a Nasdaq debut. Trading is set to begin post shareholder jamboree in May — presumably with far less hoopla than a society wedding and more champagne corks popping than a bottling factory on overtime. 🍾🚀
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2025-04-17 12:58